Anthropic's Mythos AI Model Sparks Emergency Cybersecurity Meeting With Top U.S. Bank CEOs 
Abbott Laboratories Ordered to Pay $53 Million in Premature Infant Formula Lawsuit 
Jefferies Upgrades Starbucks to Hold as China JV Deal Closes and U.S. Business Shows Signs of Recovery 
MATCH Act: How New U.S. Chip Legislation Could Freeze China's Semiconductor Ambitions 
OpenAI Addresses Security Vulnerability in macOS App Certification Process 
TSMC Posts Record Q1 2026 Profits Driven by Surging AI Chip Demand 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Chinese Cars in Europe: Consumer Trust Is Shifting Fast 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
Rio Tinto's California Boron Assets Attract Over a Dozen Bidders, Valued at Up to $2 Billion 
Meta Is Building an AI Version of Mark Zuckerberg to Interact With Employees 
Chinese Brands Are Taking Over Brazil — And It's Just Getting Started 
Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
Volkswagen Q1 2026 Sales Decline Amid China and U.S. Market Pressures 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
HOUSTON, April 11, 2016 -- Memorial Resource Development Corp. (Nasdaq:MRD) today announced that the existing borrowing base under its $2.0 billion multi-year revolving credit facility was reaffirmed by its bank group, comprised of 20 lenders, at $1.0 billion following its fiscal year-end reserves review and regularly scheduled semi-annual redetermination. MRD’s revolving credit facility matures in June 2019, and the financial covenants were unchanged.
Regarding MRD’s $600 million senior unsecured notes issue due 2022, Standard & Poor's Ratings Services (S&P) recently raised its notes issue rating on MRD's senior unsecured debt to 'B' (same level as the corporate credit rating) from 'B-'. S&P maintained a positive outlook on its ‘B’ corporate credit rating on MRD. Moody's Investor Service recently confirmed MRD's existing B2 corporate family rating and Caa1 senior unsecured notes issue rating with a stable outlook.
"The increase in proved developed producing reserves and strong performance revisions confirmed the quality of MRD’s asset base despite lower commodity prices since the fall redetermination," Jay C. Graham, CEO, said. "We believe the financial flexibility of our business model and the discipline we are demonstrating through our capital allocation process supported the reaffirmation of our borrowing base and positive credit rating actions."
About Memorial Resource Development Corp.
Memorial Resource Development Corp. is an independent natural gas and oil company engaged in the acquisition, exploration and development of natural gas and oil properties in North Louisiana. For more information, please visit our website at www.memorialrd.com.
Contact: Memorial Resource Development Corp. Hays Mabry – Manager, Investor Relations (713) 588-8339 [email protected]
