447

views
Unfave

Fitch Downgrades Afren to 'B-'; on Rating Watch Negative

Fitch Downgrades Afren to 'B-'; on Rating Watch Negative (The following statement was released by the rating agency) LONDON/MOSCOW, January 22 (Fitch) Fitch Ratings has downgraded UK-based energy group Afren plc's Long-term Issuer Default Rating (IDR), as well as its senior unsecured and secured ratings, to 'B-' from 'B' and placed them on Rating Watch Negative (RWN). The Recovery Ratings for the debt ratings are 'RR4'. The rating action follows Afren's announcement regarding a possible financial restructuring. The company confirms it has been r
Read the rest of the story on Reuters Nigeria

Added January 22, 2015
from Reuters Nigeria