Ultra Petroleum Corporation has filed for Chapter 11 protection for the second time in four years, torpedoed in large part by persistently weak natural gas prices.
Back in 2016, the company filed for bankruptcy for the purposes of debt elimination. Ultra Petroleum raised nearly $3 billion USD in exit financing by early 2017 to satisfy creditors in full all while preserving factional value for shareholders.
A look at the company's FRISK® score dating back more than a year shows an organization consistently in bankruptcy peril:
The 96%-accurate FRISK® score blends stock market volatility data, financial ratios like the Altman Z"-Score, bond agency ratings from Moody's, Fitch and DBRS Morningstar and, finally, subscriber crowdsourcing to create a metric that's elite in predicting public company bankruptcies like Ultra Petroleum.
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About Bankruptcy Case Studies
CreditRiskMonitor® Bankruptcy Case Studies provide post-filing analyses of public company bankruptcies. Our case studies educate subscribers about methods they can apply to assess bankruptcy risk using our proprietary FRISK® score, robust financial database, and timely news alerts.
In nearly every case, a low FRISK® score gave our subscribers early warning of financial distress within a one-year time horizon. Our proprietary FRISK® score predicts bankruptcy risk at public companies with 96% accuracy. The score is formulated by a number of indicators including stock market capitalization and volatility, financial ratios, bond agency ratings from Moody’s, Fitch and DBRS, and crowdsourced behavioral data from a subscriber group that includes 35% of the Fortune 1000 and thousands more worldwide.
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