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Tullow Oil plc: Trading update implies weaker credit metrics throughou...

Lower production in 2025 than we had previously projected has led to downward revisions to our expectations of Tullow's credit metrics amid high refinancing risk.

Tullow Oil plc: Uncertainty arising from pending tax disputes and refi...

Our credit view of this issuer reflects its high refinancing and country risk exposure, partially offset by strong cash margins and positive FCF generation.

Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Tullow Oil plc and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 5 December 2024 in which we reassessed the appropriateness of the ratings in the context of ...

Tullow Oil plc: Downgrade of Gabon's sovereign rating is credit negati...

Tullow's operations are concentrated in Ghana and Gabon, but have been unaffected by the difficult economic environments in those countries. Refinancing remains its main credit risk.

Tullow Oil plc: Refinancing risk and lingering geopolitical uncertaint...

Our credit view of this issuer reflects exposure to refinancing risks and geopolitical uncertainty, mitigated by good and stable operational capabilities.

Moody's affirms Tullow's ratings; outlook remains negative

Moody's Investors Service (Moody's) has today affirmed Tullow Oil plc's (Tullow) corporate family rating (CFR) of Caa1 and probability of default rating (PDR) of Caa1-PD. Concurrently, Moody's affirmed both the backed senior secured global notes rating of Caa1 and the backed senior unsecured global ...

Moody's appends limited default (LD) to Tullow' Caa1-PD following bond...

Moody's Investors Service (Moody's) has today appended a limited default (LD) designation to the Caa1-PD Probability of Default Rating (PDR) of Tullow Oil plc (Tullow), changing it to Caa1-PD/LD. Moody's will remove the "/LD" designation from Tullow's PDR after three business days. On 12th June 20...

Tullow Oil plc - December 2022 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Tullow Oil plc: Recourse to international arbitration to solve increas...

Our view of the credit implications of Tullow's announced recourse to international arbitration to resolve mounting tax claims demanded by the Ghanaian Revenue Authority.

Tullow Oil plc: Update of key credit factors following sovereign ratin...

Our credit view of Tullow reflects its sizeable and low-cost hydrocarbon base, against its high leverage and substantial exposure to Ghana, which ultimately constrains the rating.

Tullow Oil plc - June 2022 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Tullow Oil plc: Update following placement of ratings under review for...

Our credit view of Tullow reflects its sizeable and low-cost hydrocarbon base, against its substantial exposure to Ghana and high leverage.

Moody's places Tullow's ratings on review for downgrade

Moody's Investors Service ("Moody's") has today placed on review for downgrade the B3 corporate family rating (CFR) and the B3-PD probability of default rating (PDR) of Tullow Oil plc ("Tullow" or "the company"). Concurrently, Moody's has also placed on review for downgrade the B2 rating of the outs...

Tullow Oil plc: Update following outlook changed to positive

Potential merger with Capricorn Energy would strengthen Tullow's rating positioning in the B3 category, but some sovereign risk remains.

Moody's changes Tullow's outlook to positive; ratings affirmed

Moody's Investors Service (Moody's) has today affirmed the B3 Long-Term Corporate Family Rating (CFR) and the B3-PD Probability of Default Rating (PDR) of Tullow Oil plc (Tullow, or the company). Concurrently, Moody's has affirmed the B2 rating of Tullow's outstanding $1.7 billion  backed senior sec...

Tullow Oil plc - December 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Tullow Oil plc: Update following rating affirmation

Tullow Oil's credit profile displays insulation against the recent deterioration in Ghana's sovereign credit quality; leverage remains high and constrained by a small scale of production.

Moody's affirms Tullow Oil's ratings; stable outlook

Rating Action: Moody's affirms Tullow Oil's ratings; stable outlook. Global Credit Research- 10 Feb 2022. London, 10 February 2022-- Moody's Investors Service has today affirmed the B3 corporate family rating and B3-PD probability of default rating of Tullow Oil plc.

Tullow Oil plc: Exercise of pre-emption rights increases production an...

Higher production from Ghanian fields support recovery in hydrocarbon extraction's volumes and deleveraging, positioning Tullow Oil's rating more solidly within our current rating guidance.

Tullow Oil plc: Update following rating upgrade to B3

Our credit view of Tullow Oil reflects its sizeable hydrocarbon resource base and robust hedging book, offset by its small scale, asset concentration in Ghana and still-high leverage.

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