Moody’s raises Geo Energy

Moody’s Investors Service said it raised Geo Energy Resources Ltd.’s corporate family rating to Caa1 from Caa3. Moody’s also upgraded to Caa1 from Caa3 the senior unsecured guaranteed notes issued by Geo Coal International Pte. Ltd., a wholly-owned subsidiary of Geo Energy.

“The ratings upgrade reflects the elimination of near-term refinancing risk for Geo Energy, as the company announced that it had met the conditions required to prevent triggering a put option on its U.S. dollar notes in April 2021,” said Maisam Hasnain, a Moody’s assistant vice president and analyst, in a press release.

The outlook remains stable.

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