U.S. oil producers are facing debt of US$240 billion maturing until 2023, of which some 15 percent will be rated with the lowest rating of Caa, Moody’s said in a new report quoted by Kallanish Energy. The good news is that the majority of these bonds are rated B or more but the bad news is that the portion of low-rating debt will rise from 6 percent next year to 15 percent in 2020 and stay at this level over the following three years. Of the total debt maturing by 2023, US$31 billion has the lowest rating, Moody’s VP Paresh Chari said in the report. Another US$23-24 billion of debt is rated B through Baa. In 2019, the analyst said, only a small portion of the low-rating debt will need to be repaid but its share of the total maturing debt in 2020 will jump to 35 percent in […]