Stone Energy Corporation Announces Completion of Reverse Stock Split
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Stone Energy (SGY) Borrowing Base Increased to $360M from $300M
June 15, 2016 7:26 AM EDTStone Energy (NYSE: SGY) adds to Tuesday gains after the company entered into Amendment No. 3 to the Fourth Amended and Restated Credit Agreement dated as of June 24, 2014 among the Company, certain of the Companys subsidiaries, as guarantors, and the financial institutions party thereto. The Amendment, among other things, amends the Credit Agreement to increase the borrowing base to $360.0 million from $300 million.
From the filing:
On June 14, 2016, Stone Energy Corporation (the Company) entered... More
S&P Upgrades Stone Energy (SGY) to 'CCC-'; Outlook Negative
June 14, 2016 3:17 PM EDTS&P Global Ratings said it raised its corporate credit rating on oil and gas exploration and production company Stone Energy Corp. (NYSE: SGY) to 'CCC-' from 'D'. The outlook is negative.
We also raised the issue-level rating on the company's senior unsecured debt to 'CCC-' from 'D'. The recovery rating is '3', indicating our expectation of meaningful... More
