DBRS Discontinues the Ratings of Southern Pacific Resource Corp.

DBRS Limited (DBRS) has today discontinued Southern Pacific Resource Corp.’s (STP or the Company) Issuer Rating and the Senior Secured Second Lien Notes ratings, both rated at D. This action follows the announcement that the Company was placed in Receivership on June 1, 2015.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Companies in the Oil and Gas Industry and DBRS Recovery Ratings for Non-Investment Grade Corporate Issuers, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.