24.06.2014 17:23:00
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Ithaca Energy Inc. -- Moody's assigns a B2 CFR to Ithaca Energy Inc.; outlook stable
London, 24 June 2014 -- Moody's Investors Service has today assigned a corporate family rating (CFR) of B2 and a probability of default rating (PDR) of B2-PD to Ithaca Energy Inc. (Ithaca or the company). Concurrently, Moody's has assigned a (P)Caa1 rating with a loss given default assessment of LGD5 (88%) to the senior unsecured notes maturing in 2019 (the Notes) to be issued by the company and guaranteed on a senior subordinated basis by certain of its subsidiaries. The outlook on the ratings is stable. This is the first time Moody's has assigned ratings to the company.