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Prospect News home > News index > List of issuers C > Headlines for Chesapeake Energy Corp. > News item |
Fitch gives Chesapeake notes BB-
Fitch Ratings said it assigned a BB- rating to Chesapeake Energy's $2.3 billion senior notes offering due 2016, 2021 and 2023.
The proceeds of this offering will be used to refinance or redeem maturing and other outstanding debt. A full list of ratings appears at the end of this release.
The outlook remains negative.
Fitch said the ratings on Chesapeake reflect the company's leverage relative to reserves and production, coupled with size of its asset base and operating profile. For the year ended 2012, Chesapeake had 2.6 billion barrels of oil equivalent in proved reserves with 57% of those reserves proved developed.
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