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S&P rates Resolute Energy CCR, notes B-
S&P said it assigned a B- corporate credit rating to Resolute Energy Corp. (REN).
The rating outlook is stable.
At the same time, the agency assigned a B- issue-level rating and 4 recovery rating to the company's $525 million senior unsecured notes. The 4 recovery rating indicates our expectation for average (30%-50%; rounded estimate: 45%) recovery in the event of a payment default.
"The corporate credit rating reflects our assessment of REN's business risk profile as vulnerable, its financial risk profile as aggressive, and its liquidity as less than adequate, S&P credit analyst David Lagasse said in a news release.
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