DBRS Discontinues Western Energy Services Corp. Senior Unsecured Notes

DBRS Limited (DBRS) discontinued the rating on the Senior Unsecured Notes (the Notes) of Western Energy Services Corp. (the Company). The rating is being discontinued as the Notes were fully redeemed on February 1, 2018. The Company utilized proceeds from the term loan availed from Alberta Investment Management Corporation (see DBRS’s press release “DBRS Comments on Western Energy Services Corp. Announcement of Debt Financing, Private Placement and Bought Deal Financing” dated September 27, 2017) and available liquidity to redeem the Notes. DBRS notes that the discontinuation is unrelated to the credit risk profile of the Company. DBRS also has an Issuer Rating of B (low) with a Stable trend on the Company.

Notes:
The principal methodology is Rating Companies in the Oil and Gas and Oilfield Services Industries, which can be found on dbrs.com under Methodologies.

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