Forest Oil Corp. -- Moody's says, in a positive development, Forest Oil obtains covenant relief, re-establishing its liquidity position

New York, April 01, 2014 -- Moody's Investors Service commented that Forest Oil Corporation's (Forest) bank lenders have agreed to amend the leverage covenant in its secured borrowing base revolving credit facility, which should provide Forest with sufficient flexibility to access the liquidity this facility provides through at least 2015. Notwithstanding this positive development, Forest's B3 Corporate Family Rating (CFR), Caa1 notes rating and negative outlook are not impacted, pending demonstrable progress in reversing recent production declines and achieving production growth from its Eagle Ford Shale asset.

Vollständigen Artikel bei Moodys lesen