Moody’s Upgrades Neptune Energy Rating


Neptune Energy announced today that following the conditional acquisition of a portfolio of assets in the North Sea¹ and the launch of a $500 million senior notes offering² announced earlier today, Moody’s has upgraded Neptune Energy’s Bondco plc’s existing $550 million senior notes due 2025 to B1 from B2. S&P has also affirmed its BB- rating.

Neptune Energy Bondco plc’s proposed $500 million senior notes due 2026 have been assigned by S&P, Moody’s and Fitch provisional credit ratings in line with its existing $550 million notes.


Credit Agency Issuer credit Rating3 $550 million Senior Notes due 2025 Proposed $500 million Senior Notes due 2026
S&P Global Ratings BB- (Positive) BB- BB-
Moody’s Investors Service Ba3 (Positive) B1 B1
Fitch Ratings BB (Stable)4 BB4 BB(EXP)


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1 Neptune Energy Acquires North Sea Assets from Energean. Neptune Energy announced that it has entered into a conditional Sale and Purchase Agreement with Energean Oil and Gas to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for an initial consideration of $250 million.

2 Neptune Energy Announces Launch of $500 million Senior Notes Offering.

3 Neptune Energy Group Midco Ltd

4 Ratings not reviewed





Gavin Roberts

01224 281200


William Arnstein

0207 832 3948


 About Neptune Energy

Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. Neptune had production of around 160,000 net barrels of oil equivalent per day in 2018 and 2P reserves at 31st December 2018 of 638 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.

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