DBRS Finalizes Ratings of Trilogy Energy Corp. at B, Stable Trends

DBRS has today finalized its provisional rating of B on Trilogy Energy Corp.’s $300 million of 7.25% Senior Unsecured Notes due December 13, 2019 (the Notes, with a recovery rating of RR4), as well as the Company’s provisional Issuer Rating of B, both with Stable trends. DBRS assigned the provisional ratings on November 30, 2012 (see related press release).

The Notes will rank pari passu with any future senior unsecured indebtedness of the Company. DBRS understands that the net proceeds from the issuance will be used to pay down indebtedness under Trilogy’s Senior Secured Credit Facility.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodology is Rating Oil and Gas Companies (April 2011), which can be found on our website under Methodologies.