Fitch
Ratings has assigned Seven Energy International Limited (Seven Energy) an
expected Long-term Issuer Default Rating (IDR) of ‘B-(EXP)’ with a Stable
Outlook. The expected IDR takes into account a USD255m equity placement and
assumes a successful issue of dollar-denominated notes and repayment of certain
existing debt.
Fitch
has simultaneously assigned Seven Energy Finance Ltd’s proposed secured notes
an expected senior secured rating of ‘B-(EXP)’ and a ‘RR4′ Recovery Rating. The
company plans to use proceeds from the notes to refinance some of its existing
indebtedness and to improve its capital structure and liquidity. The assignment
of a final IDR is subject to the
