S&P Raises Chesapeake Energy (CHK) to 'BB+' Following Updated Outlook
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Moody's Raises Chesapeake Energy (CHK) to 'Ba1'; Notes Leverage Reduction
May 20, 2014 2:23 PM EDTMoody's Investors Service upgraded Chesapeake Energy Corporation's (NYSE: CHK) Corporate Family Rating (CFR) to Ba1 from Ba2 and the company's senior unsecured notes ratings to Ba1 from Ba3. Moody's also raised Chesapeake's Speculative Grade Liquidity Rating to SGL-2 from SGL-3. The rating outlook is stable.
"The upgrade of Chesapeake Energy's ratings to Ba1 reflects the substantial leverage reduction expected from its announced asset sales and oilfield services business spin-off," commented Pete Speer, Moody's Senior Vice President. "The company has shown stronger capital discipline and is making meaningful progress on reducing its organizational and financial... More
Chesapeake Energy (CHK) PT Raised at BofA/Merrill Lynch Post Analyst Day
May 19, 2014 8:51 AM EDTBofA/Merrill Lynch analyst Doug Leggate lifted his price target on Chesapeake Energy (NYSE: CHK) to $35.00 (from $31.00) following the company's analyst day but stopped short of upgrading the stock and maintained a Neutral rating.
Leggate notes disclosure on a splattering of... More
Chesapeake Energy (CHK) Issues Update on Divestitures; Will Spin Oilfield Services Business
May 16, 2014 7:26 AM EDTChesapeake Energy Corp. (NYSE: CHK) updated its currently anticipated 2014 asset sales and divestitures and the projected impact of such transactions on its 2014 Outlook. The company also introduced preliminary estimated ranges for its 2015 adjusted production growth and total capital expenditures. These items will be discussed in more detail at the company's 2014 Analyst Day event, to be held in Oklahoma City this morning.
Chesapeake continues to divest of noncore assets in order to focus its resources on its highest rate of return opportunities and reduce balance sheet leverage and complexity. The company currently anticipates the... More
