Seventy Seven Energy Inc. Enters into Restructuring Support Agreement

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Go back to Seventy Seven Energy Inc. Enters into Restructuring Support Agreement

S&P Downgrades Seventy Seven Energy (SSE) to 'CC'; Outlook Negative

April 20, 2016 7:54 AM EDT

Standard & Poor's Ratings Services lowered its corporate credit rating on Seventy Seven Energy Inc. (NYSE: SSE) to 'CC' from 'CCC-'. The outlook is negative.

At the same time, we lowered our issue-level ratings on the company's secured term loan to 'CCC' from 'CCC+' and unsecured notes to 'CC' from 'CCC-'. The rating on the structurally subordinated... More