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Ithaca Energy Limited: Update to credit analysis

Recently strengthened reserve base and robust financial metrics, offset by single-basin concentration on the UKCS and exposure to rising ESG risks.

Ithaca Energy Limited: Update following debt refinancing announcement

Our credit view of Ithaca reflects its low leverage and positive free cash flow, against the limited scale of its operations and asset concentration in the mature North Sea region.

Ithaca Energy Limited: Update following outlook stabilisation

Our credit view of Ithaca Energy, reflecting its production profile post CNSL acquisition, constrained by Limited scale of operations and field concentration in mature North Sea.

Ithaca Energy Limited: Update following confirmation of B1 CFR, outloo...

Our credit view of Ithaca reflecting its enhanced operating profile post Chevron deal tempered by pressure resulting from depressed oil price environment despite extensive commodity hedging

Ithaca Energy Limited: Update following placement of ratings under rev...

Our credit view of Ithaca reflecting its enhanced operating profile post Chevron deal tempered by pressure resulting from depressed oil price environment despite extensive commodity hedging

Ithaca Energy Limited: Downsizing of bond issuance is credit positive

Reduced bond issuance lowers post closing leverage and facilitates Ithaca’s efforts to regain headroom to accommodate future investments

Ithaca Energy Limited: New Issuer

Our credit view of Ithaca Energy reflecting increased resources and production post Chevron North Sea acquisition and expected deleveraging to help regain headroom to replenish reserves

Moody's withdraws the ratings of Ithaca Energy Limited

Rating Action: Moody's withdraws the ratings of Ithaca Energy Limited. Global Credit Research- 14 Feb 2019. London, 14 February 2019-- Moody's Investors Service today withdrew the B3 corporate family rating and the B3-PD probability of default rating and the stable outlook of Ithaca Energy Limited following repayment of the rated debt.

Ithaca Energy Limited: Update Following Recent Change in Outlook

A detailed rationale for Ithaca Energy’s B3 stable rating constrained by small scale and high concentration of operations despite recent refinancing and improved liquidity.

Moody's changes Ithaca Energy's outlook to stable, affirms B3 CFR

Moody's Investors Service, ("Moody's") today affirmed Ithaca Energy Limited's (Ithaca) B3 Corporate Family Rating (CFR) and B3-PD probability of default rating (PDR), and withdrew the Caa1 rating assigned to its $300 million senior unsecured notes due July 2019, which were recently rep...

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