15.07.2014 17:35:00
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Bonanza Creek Energy, Inc. -- Moody's assigns B3 rating to Bonanza Creek's senior unsecured notes
New York, July 15, 2014 -- Moody's Investors Service assigned a B3 rating to Bonanza Creek Energy, Inc.'s (BCEI) proposed offering of $300 million senior unsecured notes. The B2 Corporate Family Rating (CFR), B2-PD Probability of Default Rating (PDR) and stable outlook are not affected by this action. Proceeds of the debt offering will be used to repay outstanding borrowings under the company's revolving credit facility and for general corporate purposes, which may include funding the company's drilling program and other capital expenditures.