Ranking Motion: Moody’s withdraws Calfrac’s rankings following the completion of its recapitalization
World Credit score Analysis – 22 Dec 2020
Toronto, December 22, 2020 — Moody’s Traders Service, (“Moody’s”) has withdrawn Calfrac Holdings, LP’s (“Calfrac”) Ca Company Household Ranking, Ca-PD/LD Chance of Default score, SGL-4 Speculative Grade Liquidity Ranking, and C score on its senior unsecured notes following the completion of its recapitalization transaction on December 18, 2020.
..Issuer: Calfrac Holdings, LP
…. Company Household Ranking, Withdrawn, beforehand rated Ca
…. Chance of Default Ranking, Withdrawn, beforehand rated Ca-PD /LD
…. Speculative Grade Liquidity Ranking, Withdrawn, beforehand rated SGL-4
….Senior Unsecured Common Bond/Debenture, Withdrawn, beforehand rated C (LGD5)
..Issuer: Calfrac Holdings, LP
….Outlook, Modified To Ranking Withdrawn From Unfavourable
Moody’s has withdrawn all rankings for Calfrac Holdings, LP (Calfrac) following the completion of the corporate’s recapitalization transaction, which exchanged the excellent stability of its senior unsecured notes for widespread fairness. Moody’s not charges any of Calfrac’s debt obligations put up transaction, ensuing within the withdrawal of the issuer’s company household score, speculative grade liquidity score and its chance of default score.
Calfrac Holdings, LP, is an not directly wholly-owned subsidiary of Calfrac Properly Companies Ltd. Calfrac Properly Companies Ltd. is a Calgary, Alberta-based supplier of hydraulic fracturing companies to exploration and manufacturing (E&P) firms.
For any affected securities or rated entities receiving direct credit score help from the first entity(ies) of this credit standing motion, and whose rankings could change on account of this credit standing motion, the related regulatory disclosures will likely be these of the guarantor entity. Exceptions to this method exist for the next disclosures, if relevant to jurisdiction: Ancillary Companies, Disclosure to rated entity, Disclosure from rated entity.
The rankings have been disclosed to the rated entity or its designated agent(s) and issued with no modification ensuing from that disclosure.
These rankings are solicited. Please consult with Moody’s Coverage for Designating and Assigning Unsolicited Credit score Rankings out there on its web site www.moodys.com.
Regulatory disclosures contained on this press launch apply to the credit standing and, if relevant, the associated score outlook or score evaluate.
Moody’s basic ideas for assessing environmental, social and governance (ESG) dangers in our credit score evaluation could be discovered at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1243406.
The World Scale Credit score Ranking on this Credit score Ranking Announcement was issued by considered one of Moody’s associates outdoors the EU and is endorsed by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Foremost 60322, Germany, in accordance with Artwork.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit score Ranking Businesses. Additional data on the EU endorsement standing and on the Moody’s workplace that issued the credit standing is offered on www.moodys.com.
Please see www.moodys.com for any updates on modifications to the lead score analyst and to the Moody’s authorized entity that has issued the score.
Please see the rankings tab on the issuer/entity web page on www.moodys.com for extra regulatory disclosures for every credit standing.
Jonathan Reid Analyst Company Finance Group Moody's Canada Inc. 70 York Avenue Suite 1400 Toronto, ON M5J 1S9 Canada JOURNALISTS: 1 212 553 0376 Consumer Service: 1 212 553 1653 Donald S. Carter, CFA MD - Company Finance Company Finance Group JOURNALISTS: 1 212 553 0376 Consumer Service: 1 212 553 1653 Releasing Workplace: Moody's Canada Inc. 70 York Avenue Suite 1400 Toronto, ON M5J 1S9 Canada JOURNALISTS: 1 212 553 0376 Consumer Service: 1 212 553 1653
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