Jonah Energy Drowns Ahead of Financial restructuring

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On November 17, 2020, S&P Global Ratings lowered its issuer credit rating on Jonah Energy LLC to D from CCC- and its senior unsecured notes rating to D from CCC-. The downgrade reflects Jonah's decision to not make the full September 30th deficiency payment on its reserve-based lending facility due July 2022. The ratings agency does not expect the Company to make additional payments and believes it will seek a broader financial restructuring.

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