Comstock Resources (CRK) Not Affected by $100M Add-On Offering - S&P

Standard & Poor's Ratings Services said today that its ratings on Comstock Resources Inc. (NYSE: CRK), including the 'B' corporate credit rating and 'B-' senior unsecured debt rating, are not affected by the company's proposed $100 million add-on offering to its 7.75% senior unsecured notes due 2019. The notes were originally issued in March 2011 in the aggregate principal amount of $300 million.

Comstock intends to use net proceeds from the offering to repay outstanding borrowings under its credit facility ($360 million outstanding as of March 31, 2014).

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