Dec 18 - Standard & Poor's Ratings Services said today that its 'B-'
corporate credit rating and 'CCC+' issue-level rating on Gulfport Energy Corp.
are unchanged by Gulfport's announcement yesterday that it will issue
9,000,000 shares of common stock and launch a $50 million add-on to its 7.75%
senior notes due 2020. Net proceeds from the equity offering and the add-on will
be used primarily to fund the acquisition of approximately 30,000 net acres in
the Utica Shale from Windsor Ohio LLC for about $300 million.
Gulfport Energy Corp.
Corporate credit rating B-/Negative/--
$300 mil. 7.75% sr unsec notes due 2020 CCC+
Recovery rating 5
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the Global Credit Portal at www.globalcreditportal.com. All ratings affected
by this rating action can be found on Standard & Poor's public Web site at
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