S&P cuts Halcon to D

S&P said it cut Halcon Resources Corp. to D from CC after the company voluntarily filed for bankruptcy protection under Chapter 11.

S&P also cut the rating on the company’s unsecured debt to D from CC.

The recovery rating of 4 is unchanged, indicating the agency’s expectation for average recovery (30%-50%; rounded estimate: 35%) in a default.

© 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.