Crescent Energy Receives Favorable Responses from All Three Rating Agencies on Its Recently Announced Agreement to Acquire SilverBow Resources
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Crescent Energy Company (CRGY)
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) today announced that S&P Global Ratings (“S&P”) and Fitch Ratings, Inc. (“Fitch”) have taken positive ratings actions on Crescent, pending the closing of the previously announced acquisition of SilverBow Resources, Inc. (“SilverBow”) on May 16, 2024. In addition, Moody’s Ratings (“Moody’s”) reaffirmed its stable outlook. In their releases, the agencies recognized the transaction’s compelling strategic and financial rationale, citing potential for improved scale with complementary Eagle Ford assets, stable free cash flow generation and balance sheet strength.Moody’s affirmed Crescent's Ba3 Corporate Family Rating (CFR) and B1 senior unsecured notes' ratings, and its stable outlook (May 20, 2024)S&P affirmed Crescent’s B+ rating and revised its outlook to Positive, reflecting the combined company’s increased size, scale, and lower pro-forma cost structure once the transaction has closed (May
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CRGY
Earnings
- 5/6/24 - Beat
CRGY
Sec Filings
- 6/24/24 - Form S-4/A
- 6/18/24 - Form 8-K
- 6/13/24 - Form 8-K
- CRGY's page on the SEC website