S&P: QEP Resources loan BB+

Standard & Poor's said it assigned a BB+ and 3 recovery rating to QEP Resources Inc.'s $1.5 billion senior unsecured revolving credit facility due 2016.

The 3 recovery rating indicates 50% to 70% expected recovery in a default.

The ratings reflect the company's concentration in natural gas assets and smaller scale compared with many investment-grade exploration and production companies, S&P said.

These characteristics are somewhat limiting factors to the ratings, the agency said.

The ratings are supported by the company's favorable cost structure, good assets in the Rockies and Mid-Continent regions, S&P said, and a conservative financial policy.

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