Moody's rates Resolute Energy notes B3

Moody's Investors Service said it assigned a B3 rating to Resolute Energy Corp.'s proposed $150 million senior unsecured notes due 2020.

The new notes have the same terms and will be treated as a single series with Resolute's existing $250 million notes due 2020.

The outlook is stable.

"Resolute's tuck-in acquisition of certain Permian assets are complementary to its existing asset portfolio and provide the company with added scale and oil-weighted growth potential in the Permian to balance mature cash flows from its core Aneth Field operations," said Michael Somogyi, a Moody's vice president - senior analyst, in a news release.

The agency said the B3 rating on the proposed $150 million senior notes reflects both the overall probability of default of Resolute, to which Moody's assigns a probability default rating of B2 and a loss given default of LGD 5.

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