SM Energy Upgraded on Refinancing, Risk Persists
On December 10, 2020, S&P Global Ratings raised its issuer credit rating on SM Energy Company to CCC+ from SD (selective default) and its 2022 and 2024 issue-level ratings to B- from D. the Company has recently disclosed that since the beginning of 2020 it has repurchased a sizeable portion of its senior unsecured notes…