Chesapeake Energy Corp. must sell at least $7 billion in assets this year to avoid a credit downturn and a breach of debt covenants, Moody's Investor Service said today.


Rising debt levels and lower earnings raise the risk that the company will exceed a limit on debt to earnings before interest, taxes, depreciation and amortization in its credit facility in the second half of the year, said Moody's analyst Pete Speer.


The story was reported by Bloomberg News.