(RTTNews) -  Wilmington Trust Corp. (WL: News ) clarified that it is not extending credit for financing to Stallion Oilfield Services Ltd., which filed for Chapter 11 protection yesterday in the United States Bankruptcy Court for the District of Delaware.

News reports may have implied that Wilmington Trust is providing $259.3 million in credit to Stallion Oilfield Services.
In fact, Wilmington Trust is not a lender to Stallion Oilfield Services. Wilmington Trust said it only serves as administrative agent for the credit facility. The bankruptcy filing of Stallion Oilfield Services poses no credit or investment risk to Wilmington Trust, nor does it affect Wilmington Trust's balance sheet.

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by RTT Staff Writer

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