Moody's rates CNX's new notes B3
Rating Action: Moody's rates CNX's new notes B3. Global Credit Research- 28 Feb 2019. New York, February 28, 2019-- Moody's Investors Service, assigned B3 rating to CNX Resources Corporation's proposed $500 million senior unsecured notes due 2027. CNX intends to use the net proceeds of the sale of the new Notes to purchase up to $400 million aggregate principal amount of its outstanding 5.875% senior notes due 2022 pursuant to the cash tender offer that the company commenced...CNX Resources is an independent oil and gas company focused on the exploration, development, production, gathering, processing and acquisition of natural gas properties primarily in the Appalachian Basin. The company's operations are centered on unconventional shale formations, primarily the Marcellus Shale and Utica Shale. The company operates, develops and explores for natural gas in Appalachia (Pennsylvania, West Virginia, Ohio, and Virginia).
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