S&P rates EOG notes A-

Standard & Poor's said it assigned an A- senior unsecured rating to EOG Resources Inc.'s proposed senior notes.

Proceeds will be used to repay short-term debt and for general corporate purposes.

Ratings reflect the company's geographically diverse reserve base, good organic growth prospects, excellent cost structure and modest financial leverage, the agency said.

These strengths are partially offset by the company's concentration in the highly volatile and capital-intensive North American natural gas industry, S&P noted.

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