S&P lifts Zhaikumanai view

Standard & Poor's said it revised its outlook on Zhaikmunai LP to positive from stable.

At the same time, the agency said it affirmed its B long-term corporate credit rating on the company.

The agency also affirmed its B issue rating on Zhaikmunai's 10½% $450 million senior secured notes due 2015, issued through its wholly owned operating subsidiary Zhaikmunai LLP. The recovery rating on these notes is 3.

The agency said the outlook revision follows Zhaikmunai's strong operating performance in the first quarter of 2012, with production more than doubling following the successful ramp up of the company's newly completed gas treatment facility.

© 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.