(Source: Fitch Inc) 04 Dec 2015 11:30 AM EST Fitch Ratings-Chicago-04 December 2015: Fitch Ratings has affirmed Chesapeake Energy Corporation's (Chesapeake; NYSE: CHK) Long-term Issuer Default Rating (IDR) at 'BB-'. The Rating Outlook has been revised to Negative. Fitch expects to rate the company's planned second lien notes issuance 'BB'/RR2. Chesapeake announced the commencement of private offers of up to $1.5 billion in new 8% senior secured second lien notes due 2022 in exchange for certain outstanding senior unsecured notes. The early and late exchange offers expire on Dec. 15 and Dec. 30, 2015, respectively. Fitch believes that the exchange offer will help to reduce balance sheet debt...
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