S&P revises Vesta Energy view to negative, ups notes to B

S&P said it revised its outlook on Vesta Energy Corp. to negative from stable.

“The outlook revision reflects our view that Vesta's credit risk has increased due to a lower-than-expected production growth profile and hedging position in 2019 and weaker credit metrics driven by our lower hydrocarbon price assumptions,” S&P said in a news release.

S&P also affirmed its B- issuer credit rating on Vesta, raised the issue-level rating on the company's senior unsecured notes to B from B- and revised the recovery rating on the debt to 2 from 4 driven by the increase of 78% on Vesta's proved reserves in September 2018 from December 2017.

© 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.