| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Delta Petroleum Corp. > News item |
S&P drops Delta Petroleum to CCC
Standard & Poor's said it lowered the corporate credit rating on Delta Petroleum Corp. to CCC from B- and removed ratings from CreditWatch with negative implications where they were placed on Jan. 16, because of concerns about near-term liquidity and covenant compliance.
The outlook is developing.
"The downgrade reflects our concern that Delta may be unable to raise the $140 million in capital required in an announced forbearance agreement, which could lead to an event of default," S&P analyst Paul Harvey said in a statement.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.