S&P Downgrades Ultra Petroleum (UPL) to 'CC'' Following Move to Defer Debt Payment
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Ultra Petroleum Enters Into Waiver And Amendment Agreements With Certain Of Its Lenders
March 2, 2016 9:15 AM ESTHOUSTON, March 2, 2016 /PRNewswire/ --Â Ultra Petroleum Corp. (NYSE: UPL) (the "Company") today announced that on March 1, 2016, its wholly-owned subsidiary, Ultra Resources, Inc. ("Ultra Resources") entered into waiver and amendment agreements with all of the Ultra Resources lenders, including each of the lenders participating in Ultra Resources' unsecured revolving credit facility and each of the investors holding unsecured senior notes issued by Ultra Resources. The waiver and amendment agreements provide the Company with an opportunity to continue discussions with its creditors about restructuring all of its debt burdens, including the senior... More
