10:13 AM EDT, 03/19/2024 (MT Newswires) -- S&P Global Ratings on Tuesday assigned its BB- issue-level and 2 recovery rating to Secure Energy Services Inc.'s ( SECYF ) proposed C$300 million senior unsecured notes due 2029.

The rating agency expects the company to use the proceeds from the proposed issuance to refinance the existing C$340 million of senior unsecured notes due 2026.

"We view the transaction as neutral for credit quality and accordingly, our 'B+' issuer credit rating and stable outlook are unchanged," the agency said.

The company's stock slipped 0.5% on last look on Tuesday.

Price: 11.56, Change: -0.06, Percent Change: -0.52