Chesapeake (CHK) Needs $7 Billion Says Moody’s

Moody's Ratings Agency released a report today on the state of the oil and gas producer Chesapeake Energy Corporation. The company is facing several problems at the moment including a significant gap between its income and expenditures. In order to pay the loans that the company has taken to sustain its existence the firm is attempting to sell assets.

Moody's puts a figure of $7 billion on the amount Chesapeake will have to raise from asset sales in order to meet its agreements. If the firm does not manage to sell at least that value in assets it is...