Advertisement
UK markets close in 22 minutes

  • FTSE 100

    7,888.61
    +11.56 (+0.15%)
     

  • FTSE 250

    19,392.21
    -58.46 (-0.30%)
     

  • AIM

    744.73
    -0.56 (-0.08%)
     

  • GBP/EUR

    1.1645
    -0.0038 (-0.33%)
     

  • GBP/USD

    1.2431
    -0.0008 (-0.06%)
     

  • Bitcoin GBP

    51,825.85
    +464.93 (+0.91%)
     

  • CMC Crypto 200

    1,376.85
    +64.23 (+5.15%)
     

  • S&P 500

    5,001.12
    -10.00 (-0.20%)
     

  • DOW

    37,964.46
    +189.08 (+0.50%)
     

  • CRUDE OIL

    83.29
    +0.56 (+0.68%)
     

  • GOLD FUTURES

    2,404.50
    +6.50 (+0.27%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,748.78
    -88.62 (-0.50%)
     

  • CAC 40

    8,029.11
    +5.85 (+0.07%)
     
Property:

11 beautiful homes with glorious garden rooms

Investing in a home with a garden room will enable you to enjoy your outside space whatever the weather

S&P cuts oil producer Afren's credit rating

Reuters - UK Focus

Feb 4 (Reuters) - Standard & Poor's cut its long-term corporate credit rating on Afren Plc (LSE: AFR.L - news) to 'SD', or selective default, from 'CC', becoming the second major ratings agency to downgrade the oil producer in just over a week.

"We downgraded Afren because it failed to pay its obligations under both its $300 million revolving credit facility (Ebok facility) and its bonds maturing in 2016 on time," S&P said.

The agency also cut its long-term issue rating on the company's senior secured bonds maturing in 2016 to 'D' from 'CC'.

Fitch last week cut Afren's long-term rating to 'C' from 'B', warning of the company's imminent default. (Reporting by Esha Vaish in Bengaluru; Editing by Robin Paxton)