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S&P downgrades Anadarko Basin producer Alta Mesa after management changes

Dec 28, 2018 - SNL Energy Finance Daily

S&P Global Ratings downgraded its ratings by two notches on Alta Mesa Resources Inc. after the Anadarko Basin-focused driller's announcement that it is replacing its senior management team, coupled with its failure to achieve operational goals and the effects of falling crude oil prices.

The rating agency lowered its issuer credit rating on Alta Mesa and that of subsidiary Alta Mesa Holdings LP, as well as its issue-level rating on Alta Mesa Holdings' senior unsecured debt, to CCC+ from B,...