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S&P might lift Chesapeake Energy
S&P said it placed its ratings on Chesapeake Energy Corp., including its B issuer credit rating, on CreditWatch with positive implications.
“The CreditWatch positive placement reflects our expectation that Chesapeake's financial measures will meaningfully improve following its largely equity-financed acquisition of WildHorse Resources Development Corp., combined with the redemption of Chesapeake's $1.4 billion second-lien notes using a portion of the proceeds from the recent sale of its Utica assets,” the agency said in a news release.
“The WildHorse acquisition will meaningfully expand Chesapeake's acreage position and oil and gas production in the Eagle Ford shale in South Texas.”
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