Moody's upgrades Secure Energy's CFR to Ba3; stable outlook
Moody's Investors Service (Moody's) upgraded Secure Energy Services Inc.'s (Secure) corporate family rating (CFR) to Ba3 from B1, probability of default rating (PDR) to Ba3-PD from B1-PD and the senior unsecured notes rating to B2 from B3. The speculative grade liquidity rating was upgraded to SGL-...Secure Energy Services is an energy services company that focuses on providing specialized services to oil and natural gas companies operating in the Western Canadian Sedimentary Basin. The services provided by Co. include clean oil terminalling, custom treating of crude oil, crude oil marketing, produced and waste water disposal, oilfield waste processing, landfill disposal and the purchase and resale of crude oil. Co. also provides a range of these services in each of its operating facilities throughout Alberta and British Columbia. Co. operates three types of facilities: full service terminals, stand alone water disposal facilities and class I and II landfills.
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