EFTA Document EFTA01357808

13 January 2015 HY Corporate Credit Energy Cimarex Energy Relative Value Cimarex (XEC) ranks relatively high within the peer group in context of facing the current commodity downturn. Its strong financial profile creates a solid platform; its sub lx net leverage level (0.6x at end of O3 14) is the lowest amongst our peer group and liquidity is solid at $1.6 billion including $564 million of cash and undrawn revolver of 51.0 billion. The favorable financial position is attributable to c