Fitch Ratings Downgrades Chesapeake Energy from B to B-

Last week we told you that Chesapeake Energy CEO Doug Lawler had pulled a rabbit out of his hat with fourth quarter and full year 2015 financial news (see Chesapeake Loses $14.9B, Suspends New Utica/Marcellus Drilling). The stock market got all excited and boosted Chessy’s stock by 22% in a single day, from $2.19 to $2.67 per share. But then Fitch Ratings came along and downgraded Chesapeake’s rating from a B to a B-. Fitch says Chesapeake has an increased risk of not being able to put their hands on cash if they need it. Here’s what the Fitch people said last Thursday in downgrading Chesapeake…

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