It appears that S&P Ratings Services have lowered Santos' senior issue credit ratings to BBB from BBB+ and hybrid notes to BBB- from BBB.
They have mentioned that there are potentials for large capex cuts and I think Santos will provide guidance on this soon. With the market concerned about Santos' balance sheet any significant discretionary cuts in spending should be welcomed. I think the BBB rating is a good outcome for Santos as it will give it the rating it needs to shore up its balance sheet and avoid an equity raising.
It appears that S&P Ratings Services have lowered Santos' senior...
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$7.01 |
Change
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Mkt cap ! $22.92B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 34 | 99126 | $7.00 |
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| Price($) | Vol. | No. |
|---|---|---|
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