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Pin to quick picksZenith Energy Regulatory News (ZEN)

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2 Nov 2021 12:26

RNS Number : 0923R
Zenith Energy Ltd
02 November 2021
 

November 2, 2021                                

ZENITH ENERGY LTD.  

("Zenith" or the "Company")  

Credit Rating Upgrade

Zenith Energy Ltd. ("Zenith" or the "Company") (LSEZEN; OSE: ZENA), a company focused on building a production and development portfolio in Africa, is pleased to announce that Rating-Agentur Expert RA ("RAEX") has upgraded its debt issuer credit rating to 'B' with 'Stable Outlook'.

The RAEX report can be viewed here: https://raexpert.eu/reports/Press_release_Zenith_Energy_Ltd_01.11.2021.pdf

RAEX is an independent European Credit Rating Agency with more than 20 years of experience in the rating industry. It is registered with the European Securities and Markets Authority ("ESMA") and received ECAI status (External Credit Assessment Institution) in 2015.

 

Luca Benedetto, Chief Financial Officer and an Executive Director of Zenith, commented:

 

"We are pleased to receive an upgraded credit rating that reflects the positive work we have been doing in terms of strengthening our balance sheet and enriching our portfolio, as well as being a product of the favourable economics of our energy production operations due to the current high pricing climate. It is our intention to further improve our ratings as we deliver on our development objectives.

 

Our credit ratings are an important characteristic that will enable Zenith to utilise its debt instruments to a greater degree to fund its ambitious asset acquisition and development programme in Africa."

 

 

Further Information: 

Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 9031

E: info@zenithenergy.ca

Allenby Capital Limited - Financial Adviser & Broker Nick Harriss

Nick Athanas

Tel: + 44 (0) 203 328 5656

Celicourt Communications (Financial PR) Mark Antelme 

Jimmy Lea

Tel: +44 (0) 208 434 2643

E: zenithenergy@celicourt.uk

 

 

 

Notes to Editors   

Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).

Zenith's development strategy is to identify and rapidly complete value-accretive hydrocarbon production opportunities in the oil & gas sector, specifically in Africa.

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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