OREANDA-NEWS. S&P Global Ratings today said it affirmed its 'SD' (selective default) long-term corporate credit and 'D' senior unsecured debt ratings on Perpetual Energy Inc. S&P Global Ratings subsequently withdrew the ratings due to lack of sufficient, satisfactory information.

We had lowered the long-term corporate credit rating on the company to 'SD' on April 29, 2016. This followed Perpetual's announcement that it had completed its previously announced securities swap proposal, which we viewed as a distressed exchange transaction.