M-2 has to make the slide because if D-2
(the near man) made it, the attackman behind the goal (X) would be able to sneak around on a back-door move.
The ratings of the class C, D-1 and D-2
notes address the likelihood that investors will receive ultimate interest payments, as per the governing documents, as well as the aggregate outstanding amount of principal by the stated maturity date.
The ratings assigned to the class D-1 and class D-2
notes had previously been placed on CreditWatch with negative implications on Aug.
This well will drill to a planned depth of 14,616 feet to evaluate the "O" sand series in a fault block updip and adjacent to the D-2