Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Moody's Investors Service, ("Moody's") downgraded EXCO Resources, Inc.'s (EXCO) Probability of Default Rating (PDR) to D-PD from C-PD following the company's announcement that it had filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S....
CORPORATES CREDIT OPINION 28 December 2017 Update RATINGS EXCO Resources, Inc. Domicile Dallas, Texas, United States Long Term Rating C Type LT Corporate Family Ratings - Dom Curr Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Andrew Brooks +1.212.553.10
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO.BC) (OTC Pink: XCOO) (“EXCO” or the “Company”) today announced that on December 22, 2017, EXCO was notified by the New York Stock Exchange (“NYSE”) that the NYSE has determined to commence proceedings to delist EXCO’s common shares from the NYSE as a result of EXCO’s failure to maintain an average global market capitalization over a consecutive 30 trading-day period of at least $15 million pursuant to Section 802.01B of the NYSE Listed Company Manual. The NYSE also suspended th...
Rating Action: Moody's downgrades EXCO Resources' ratings. Global Credit Research- 27 Dec 2017. New York, December 27, 2017-- Moody's Investors Service, downgraded EXCO Resources, Inc.' s Probability of Default Rating to C-PD/LD from Ca-PD and its Corporate Family Rating to C from Ca.
DALLAS--(BUSINESS WIRE)-- December 21, 2017 – EXCO Resources, Inc. (NYSE: XCO) ("EXCO" or the "Company") today announced that it has entered into forbearance agreements (the “Forbearance Agreements”) with the administrative agent and the majority of lenders under its reserve-based credit agreement (the “Credit Agreement”), holders of approximately 87% of the outstanding aggregate principal amount of its senior secured 1.5 lien notes due March 2022 (the “1.5 Lien Notes”) and lenders holding approximately 81% of its outstanding senior s...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE:XCO.BC) (“EXCO” or the “Company”) today announced that on December 11, 2017, EXCO was notified by the New York Stock Exchange (“NYSE”) of its noncompliance with continued listing standards because the average closing price of its common shares over a period of 30 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price per share required to maintain listing on the NYSE. Under the NYSE rules, during the six-month period from the d...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE:XCO.BC) (“EXCO” or the “Company”) today announced the resignation of C. John Wilder from his position as a member of the Company’s Board of Directors (the “Board”) and his position as Executive Chairman of the Board, in each case effective as of November 9, 2017. Mr. Wilder became one of the Company’s directors and Executive Chairman of the Board in September 2015. At the time of his resignation, Mr. Wilder was not a member of any committee of the Board. Mr. Wilder’s resign...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) ("EXCO" or the "Company") today announced operating and financial results for third quarter 2017. 2017 Third Quarter Highlights Drilled 11 gross (6.5 net) horizontal wells in North Louisiana during third quarter 2017. Produced 237 Mmcfe per day, or 22 Bcfe, for third quarter 2017, a decrease of 4% compared to second quarter 2017, primarily due to natural production declines. GAAP net loss was $19 million, or...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE:XCO.BC) (“EXCO” or the “Company”) today announced the resignation of Stephen J. Toy from the Company’s Board of Directors (the “Board”), effective as of October 6, 2017. Mr. Toy originally joined the Board in March 2017. At the time of his resignation, Mr. Toy was a member of each of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board. The resignation of Mr. Toy was not the result of any disagreement with the Company on...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE:XCO.BC) (“EXCO” or the “Company”) today announced the resignation of each of B. James Ford and Samuel A. Mitchell from the Company’s Board of Directors (the “Board”), in each case effective as of September 20, 2017. Mr. Ford originally joined the Board in December 2007 and Mr. Mitchell originally joined the Board in June 2013. At the time of their respective resignations, neither Mr. Ford nor Mr. Mitchell was a member of any committee of the Board. The resignations of ...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO.BC) (“EXCO” or the “Company”) announced today that the Board of Directors of the Company (the “Board”) has delegated authority to the Audit Committee of the Board (the “Audit Committee”), which is comprised of EXCO’s four independent directors, to explore strategic alternatives to strengthen the Company’s balance sheet and maximize the value of the Company. The Company, at the direction of the Audit Committee, has retained PJT Partners LP as financial advisors and Alva...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) (“EXCO” or the “Company”) today announced that on August 10, 2017 it was notified by the New York Stock Exchange (the “NYSE”) that it is not in compliance with the continued listing standards set forth in Section 802.01B of the NYSE’s Listed Company Manual because the Company’s average global market capitalization fell below $50 million over a trailing consecutive 30 trading-day period while its shareholders’ equity was less than $50 million. As required by the NYSE, the Compa...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) ("EXCO" or the "Company") today announced operating and financial results for second quarter 2017. 2017 Second Quarter Highlights Drilled 11 gross (4.8 net) and turned-to-sales 4 gross (3.5 net) operated horizontal wells in North Louisiana in second quarter 2017. Produced 229 Mmcfe per day, or 21 Bcfe, for second quarter 2017, a decrease of 4% compared to first quarter 2017, primarily due to natural production declines and the ti...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) today announced that it will be releasing second quarter 2017 results on Tuesday, August 8, 2017, after the market closes. EXCO will host a conference call on Wednesday, August 9, 2017, at 9:00 a.m. (central time) to discuss the results and respond to questions. Please call (800) 309-5788 if you wish to participate, and ask for the EXCO conference call ID# 64388280. The conference call will also be webcast on EXCO’s website at www.excoresources.com under the In...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) (“EXCO” or the “Company”) today announced that its Board of Directors (the “Board”) has approved a 1-for-15 reverse share split of its common stock. The Company’s shareholders granted authority to the Board to effect the reverse share split at the Company’s 2017 Annual Meeting of Shareholders on May 31, 2017 (the “Annual Meeting”). The reverse share split is expected to become effective after the market closes on June 12, 2017. The Company’s common stock will continue to trade...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) (“EXCO” or the "Company") today announced operating and financial results for first quarter 2017. 2017 First Quarter Highlights Drilled 4 gross (3.5 net) operated horizontal wells targeting the Haynesville and Bossier shales in North Louisiana in first quarter 2017. Produced 241 Mmcfe per day, or 22 Bcfe, for first quarter 2017, within guidance. GAAP net income was $8 million, or $0.03 per diluted share, and...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) today announced that it will be releasing first quarter 2017 results on Tuesday, May 9, 2017, after the market closes. EXCO will host a conference call on Wednesday, May 10, 2017, at 9:00 a.m. (central time) to discuss the results and respond to questions. Please call (800) 309-5788 if you wish to participate, and ask for the EXCO conference call ID# 64387745. The conference call will also be webcast on EXCO’s website at www.excoresources.com under the Investor...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE:XCO) (“EXCO” or the “Company”) announces the execution of a definitive agreement with a subsidiary of Venado Oil and Gas, LLC, an affiliate of KKR, to divest its oil and natural gas properties in South Texas. The purchase price of $300 million is subject to customary closing conditions and adjustments based on an effective date of January 1, 2017. The properties to be divested include the Company's interests in oil and natural gas properties and surface acreage in Zavala, Frio and D...
DALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE:XCO) (“EXCO” or the “Company”) today announced the appointment of Randall E. King to its Board of Directors (the “Board”). Effective March 29, 2017, the Board, acting upon the recommendation of the Nominating and Corporate Governance Committee of the Board, appointed Mr. King as a member of the Board. Mr. King will also serve on the Audit Committee and Compensation Committee of the Board. Mr. King is a founding member and Managing Partner of Anderson King Energy Cons...
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