CNX Finances Continue to Improve – Buying Back $400M in Notes

CNX Resources announced yesterday that it will buy back $400 million (roughly half) of its outstanding notes, debt that’s not due to be redeemed until 2022. They’re buying it back early. The company’s finances continue to get stronger. It was just February when Standard & Poor’s Global Ratings downgraded the credit rating for six of the biggest M-U drillers, including CNX (see S&P Downgrades Credit Rating for Six Big Marcellus/Utica Drillers).

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