Moody's Reviews 29 US E&P Companies for Downgrade
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Canaccord Genuity Cuts Price Target on Pentair (PNR) to $58 Following 2016 Annual outlook
December 18, 2015 8:36 AM ESTCanaccord Genuity maintained a Hold rating on Pentair (NYSE: PNR), and cut the price target to $58.00 (from $62.00), following the company's views for its 2016 annual outlook. In short, energy/industrial challenges are now extending beyond project activity to short cycle business, with challenges... More
Moody's Places Seven Canadian E&P's on Review for Downgrade (SU) (ECA) (CNQ) (CVE)
December 16, 2015 2:25 PM ESTMoody's Investors Service (Moody's) placed the ratings of 7 Canadian exploration and production (E&P) companies and their rated subsidiaries on review for downgrade. A complete set of companies and rating actions is listed below.
"Industry conditions have weakened further with oil and natural gas prices at multi-year lows," said Terry Marshall, Moody's Senior Vice President. "E&P companies will be stressed for a longer period with much lower cash flows, difficulty selling assets and limited capital markets access."
RATINGS RATIONALE
As part of an ongoing assessment of energy markets, Moody's sharply reduced its oil and gas price... More
