Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
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]
