S&P Downgrades Triangle Petroleum (TPLM) to 'D' Following Noteholder Agreement
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Triangle Petroleum (TPLM) Probability of Default Rating Cut to 'D-PD' by Moody's; Outlook is Negative
July 1, 2016 12:03 PM EDTMoody's Investors Service, ("Moody's") downgraded Triangle USA Petroleum Corporation's (NYSE: TPLM)(TUSA) Probability of Default Rating (PDR) to D-PD from Caa2-PD, following the company's announcement that it has filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Concurrently, Moody's... More
Triangle Petroleum (TPLM) Says it Does Not Guarantee TUSA's Funded Indebtedness
June 30, 2016 7:54 AM EDTTriangle Petroleum Corporation (NYSE: TPLM) today provided an update on its evaluation of strategic alternatives and announced other corporate matters in conjunction with the filing by its wholly-owned subsidiaries, Triangle USA Petroleum Corporation ("TUSA") and Ranger Fabrication, LLC, and their respective subsidiaries, of voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to implement the terms of a Plan Support Agreement ("PSA") that will facilitate the restructuring of TUSA's balance sheet.
Triangle Petroleum Corporation does not guarantee... More
Triangle USA Petroleum Corporation Files Voluntary Petitions for Relief Under Chapter 11 (TPLM)
June 30, 2016 7:53 AM EDTTriangle USA Petroleum Corporation ("TUSA") and its affiliates today filed voluntary petitions for relief under Chapter 11 of the United States BankruptcyCode in the United States Bankruptcy Court for the District of Delaware to implement the terms of a Plan Support Agreement ("PSA") that will facilitate the restructuring of its balance sheet.
TUSA is a wholly-owned subsidiary of Triangle Petroleum Corporation (NYSE MKT: TPLM, or "TPC"). Neither TPLM nor its affiliated company, RockPile Energy Services, LLC, is included in TUSA's Chapter 11 filing. Ranger Fabrication, LLC, a minor, wholly-owned subsidiary of TPLM that ceased operating earlier this year, has filed for... More
