| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Vital Energy Inc. > News item |
S&P puts Vital Energy on watch
S&P said it placed its B issuer and senior unsecured ratings for Vital Energy Inc. on CreditWatch with negative implications.
The company has $456 million of 9˝% senior unsecured notes due Jan. 15, 2025, which become current on Jan. 15, 2024.
“If these notes are not refinanced comfortably ahead of becoming current, we believe the company's liquidity position would be stretched and the company could breach its minimum 1x current ratio covenant. In addition, if the January 2025 notes remain outstanding on July 29, 2024, the company's RBL facility maturity would spring forward by one year to this date, placing additional stress on liquidity and the company's overall financial standing,” S&P said in a press release.
The agency warned of a possible downgrade unless Vital Energy refinances its 9˝% notes before they become current.
© 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.