Lenders

Financially troubled Samson Resources Corp. has made a restructuring pact that will cut debt and bring at least $450 million of new capital into the company as it prepares for a Chapter 11 filing, the Tulsa-based producer said late Friday.

The financial storm enveloping Aquila Corp. — cuts in its credit rating to below investment grade, forced asset sales, restructuring of its operations and widespread federal investigations into its trading — will have “possible negative impacts” on the company’s regulated natural gas distribution facilities and power utilities in Missouri, but an immediate rate hike doesn’t appear to be in the cards for customers, according to a Missouri Public Service Commission staff report.

Pressured by its lenders to restrict dividends before credit agreements could be finalized, CMS Energy Corp. last week cut its common dividend 50%, to an annual rate of 72 cents a share. Whether the dividend is restored or even continued after the end of this year will depend on how well the business performs in the future, CFO Alan Wright told analysts during a conference call. By cutting the dividend, however, CMS reached agreement with a group of 21 banks on five credit facilities totaling $1.3 billion.

Noting the “growing relevance and importance to investors and lenders,” Moody’s Investors Service announced Thursday it will expand its research and analysis in several areas of corporate credit analysis. The credit ratings service said it would apply “greater analytical focus and commit additional resources to its analysis and published research on the quality of financial accounting and the transparency of corporate disclosure, corporate governance issues, and risk management and derivatives issues related to credit.”

Costilla Energy Inc. of Midland, TX, is examining its optionsafter lenders extended until June 1 a $10.2 million mandatoryprincipal payment due a bank credit facility. Petrie Parkman &ampCo. was hired to weigh potential deals.

Costilla Energy Inc. of Midland, TX, is examining its optionsafter lenders extended until June 1 a $10.2 million mandatoryprincipal payment due a bank credit facility. Petrie Parkman &Co. was hired to weigh potential deals.