Tag: Fitch ratings
Investments in US exploration & production firms resilient despite low oil, gas prices – Fitch
Oversupply has worked its way into refined products, affecting US refiners’ profitability and utilization CHICAGO – The US investment- grade exploration and production (E&P) sector has weathered the two-year commodity price downturn mostly unscathed, according to Fitch Ratings’ North American Exploration and Production Handbook. Most companies in Fitch’s monitored universe had stable or higher amounts available […]
Nuclear power plant retirements continue due to low natural gas prices
Exelon has 4 other nuclear facilities at risk of early retirement: Byron, Ginna, Nine Mile Point, Three Mile Island NEW YORK – Exelon Corp. says that it will retire Clinton and Quad Cities nuclear facilities and may precipitate other nuclear plant closures as the trend of nuclear shutdowns continues, according to Fitch Ratings. The planned shutdowns highlight difficult operating conditions […]
Struggling O&G co.s losing vital financial lifeline by missing distressed debt payments
Fitch projects $90 billion in 2016 defaults, 3rd highest on record behind 2002 ($110 billion) and 2009 ($119 billion) Distressed debt exchanges (DDEs), a prominent lifeline used by struggling energy companies since last April, may no longer be a viable tool to stem the tide of low oil prices, according to Fitch Ratings. The past three […]
Credit ratings outlook for US oil & gas revised to negative on lower prices – Fitch
Investment grade E&Ps currently on Negative Outlook include ConocoPhillips, Hess, Southwestern Energy Company NEW YORK, NY – The dramatic price declines afflicting the oil and gas industry is finally beginning to affect company credit ratings, according to Fitch Ratings. Fitch Ratings has revised its 2016 rating outlook for the US oil and gas industry to […]
Capex cuts are both risk, reality for American E&Ps – Fitch
Prolonged low prices, supply and demand dynamics remain key issues affecting American oil and gas producers, service firms NEW YORK – The 2016 sector outlooks for the US oil and gas and oilfield services sectors are negative, according to Fitch Ratings, pressured by global supply/demand challenges, the threat of persistently low oil prices, and sharp capex […]
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