Delta Petroleum (DPTR -8.3%) trades lower after S&P cut the shares a notch further into junk...

|By:, SA News Editor

Delta Petroleum (DPTR -8.3%) trades lower after S&P cut the shares a notch further into junk territory and lowered its outlook to negative late Friday. The move comes two days after the oil-and-natural-gas company said it would likely need to restructure its debt in a move that could include Chapter 11. The stock has fallen hard since hitting a 52-week high near $13 in early March, dwindling down to just pennies on the dollar over mounting debt problems.