Research Update: Northern Oil&Gas Inc. Downgraded To 'SD' From 'CC' On Distressed Note Exchange; Unsecured Debt Rating Lowered To 'D' - S&P Global Ratings’ Credit Research

Research Update: Northern Oil&Gas Inc. Downgraded To 'SD' From 'CC' On Distressed Note Exchange; Unsecured Debt Rating Lowered To 'D'

Research Update: Northern Oil&Gas Inc. Downgraded To 'SD' From 'CC' On Distressed Note Exchange; Unsecured Debt Rating Lowered To 'D' - S&P Global Ratings’ Credit Research
Research Update: Northern Oil&Gas Inc. Downgraded To 'SD' From 'CC' On Distressed Note Exchange; Unsecured Debt Rating Lowered To 'D'
Published May 16, 2018
5 pages (1448 words) — Published May 16, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S.-based oil and gas exploration and production company Northern Oil&Gas Inc. has announced the completion of its exchange for a portion of its unsecured notes for a combination of equity and new second-lien secured notes. We are lowering the corporate credit rating on Northern Oil&Gas to 'SD' from 'CC'. We are also lowering the issue-level rating on the company's senior unsecured notes to 'D' from 'CC'. On May 16, 2018, S&P Global Ratings lowered its corporate credit rating on Northern Oil&Gas Inc. to 'SD' (selective default) from 'CC'. At the same time, we lowered the issue-level rating on the company's senior unsecured debt to 'D' from 'CC'. We will review our recovery ratings on

  
Brief Excerpt:

...+ U.S.-based oil and gas exploration and production company Northern Oil & Gas Inc. has announced the completion of its exchange for a portion of its unsecured notes for a combination of equity and new second-lien secured notes. + We are lowering the corporate credit rating on Northern Oil & Gas to '##' from '##'. + We are also lowering the issue-level rating on the company's senior unsecured notes to 'D' from '##'....

  
Report Type:

Research Update

Ticker
NOG
Issuer
Northern Oil and Gas Inc.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Northern Oil&Gas Inc. Downgraded To 'SD' From 'CC' On Distressed Note Exchange; Unsecured Debt Rating Lowered To 'D'" May 16, 2018. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Northern-Oil-Gas-Inc-Downgraded-To-SD-From-CC-On-Distressed-Note-Exchange-Unsecured-Debt-Rating-Lowered-To-D-2039355>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Northern Oil&Gas Inc. Downgraded To 'SD' From 'CC' On Distressed Note Exchange; Unsecured Debt Rating Lowered To 'D' May 16, 2018. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Northern-Oil-Gas-Inc-Downgraded-To-SD-From-CC-On-Distressed-Note-Exchange-Unsecured-Debt-Rating-Lowered-To-D-2039355>
  
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