Moody's lifts Sanchez Energy, notes

Moody's Investors Service said it upgraded Sanchez Energy Corp.'s corporate family rating to B2 from B3 and its senior unsecured note rating to B3 from Caa1.

The agency also upgraded Sanchez's speculative grade liquidity rating (SGL) to SGL-2 from SGL-3.

The outlook was revised to stable from positive.

"Sanchez has the asset base and the capital structure to sustain its production level near 20,000 boe/day," Moody's analyst Sajjad Alam said in a news release. "The company has executed its drilling operations in line with our expectations and we anticipate steady organic growth in reserves, production and cash flows through 2015."

© 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.