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Prospect News home > News index > List of issuers M > Headlines for Melrose Resources plc > News item |
S&P assigns Melrose B-, bond CCC+
Standard & Poor's said it assigned its B- long-term corporate credit rating to Melrose Resources plc.
The outlook is stable.
At the same time, the agency said it assigned its CCC+ senior unsecured debt rating to a proposed €250 million bond to be issued by the company.
The ratings are restricted by the small size of the company's production and asset base, S&P noted, adding that Melrose has limited diversity and the company's aggressive capital expenditure plans and already high debt levels further restrict the ratings.
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