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Fitch: Chesapeake notes BB
Fitch Ratings said it assigned a BB rating to Chesapeake Energy Corp.'s issuance of $1 billion of senior unsecured notes due 2019.
The proceeds are to be used for refinancing revolver borrowings and upcoming maturities as well as for general corporate purposes.
The current ratings reflect the company's large reserve base coupled with relatively high leverage and aggressive growth and spending plans, the agency said.
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