S&P Upgrades Stone Energy (SGY) to 'CCC-'; Outlook Negative

Stone Energy (SGY) Borrowing Base Increased to $360M from $300M

Stone 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

Stone Energy (SGY) Gains After Saying it Will Make Interest Payment

Stone Energy (NYSE: SGY) is gaining early following a disclosure that it intends to make the Interest Payment on June 14, 2016 and, as a result, will be in compliance with its obligations under the indenture. In addition, on June 13, 2016, the Company made the second borrowing base deficiency payment of approximately $29.2 million pursuant to the terms of that certain Fourth Amended and Restated Credit Agreement, dated as of June 24,... More

Preliminary Russell 3000 Additions and Deletions

After the close Friday, Russell released its preliminary list of Additions and Deletions to the Russell 3000. Russell updates will be provided on June 17 and 24. The newly reconstituted indexes take effect after the close on June 24.

Additions:

Deletions:

Stone Energy (SGY) Closes One-for-Ten Reverse Stock Split

Stone Energy Corporation (NYSE: SGY) announced that at the close of business on June 10, 2016, it effected a 1-for-10 reverse stock split. Every 10 shares of Stone's issued and outstanding common stock were automatically converted into one share of common stock. Stone's common stock will begin trading on a split-adjusted basis when the market opens on June 13, 2016.

Pursuant to the reverse stock split, every 10 shares of Stone's issued and outstanding common stock (and such shares held... More