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BCEI

Bonanza Creek

$1.07

0.02 (1.90%)

16:08
10/14/16
10/14
16:08
10/14/16
16:08

Bonanza Creek won't make interest payment for $500M 6.75% sr. notes due 2021

The company disclosed in a regulatory filing that while it has sufficient cash on hand to make the payment, Bonanza Creek Energy has elected not to make the interest payment due on October 15 with respect to its $500M 6.75% senior notes due in 2021. By not making the interest payment, the Company will enter into a 30-day grace period during which it retains the right to pay the interest due to the holders of the 2021 Notes and thereby remain within compliance of the bond indenture. The 30-day grace period also applies to any potential cross-default under the Company's credit facility with respect to the bond interest payment.

BCEI Bonanza Creek
$1.07

0.02 (1.90%)

08/02/16
WDLK
08/02/16
DOWNGRADE
WDLK
Sell
Bonanza Creek downgraded to Sell from Hold at Wunderlich
Wunderlich analyst Irene Haas downgraded Bonanza Creek Energy to Sell with a $0 price target after the company suspended its sale processes and said its liquidity outlook has deteriorated. The company is "running out of options," Haas tells investors in a research note.
08/02/16
JPMS
08/02/16
DOWNGRADE
JPMS
Underweight
Bonanza Creek downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Bonanza Creek Energy to Underweight after the company suspended its sale processes and said its liquidity outlook has deteriorated. Wunderlich this morning also downgraded Bonanza to Sell.
09/29/16
STFL
09/29/16
UPGRADE
STFL
Hold
Bonanza Creek upgraded to Hold from Sell at Stifel
09/29/16
09/29/16
NO CHANGE

Bonanza Creek upgraded based on oil price outlook at Stifel
As noted earlier, Stifel upgraded Bonanza Creek to Hold from Sell. Analyst Michael Scialla upgraded the stock based on an improved oil price outlook after OPEC reportedly agreed to an oil production cut. The analyst says that the production cut may not actually occur. However, he believes that other factors, along with positive commentary from OPEC, "appears to be building an oil price floor of $40."

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