S&P rates Equitable Resources notes BBB

Standard & Poor's said it assigned its BBB rating to Equitable Resources Inc.'s $500 million senior unsecured notes due 2018.

In addition, S&P said it also affirmed the ratings on the company, including the BBB corporate credit rating.

The outlook remains negative.

The agency said that Equitable Resources has been rapidly expanding its gas exploration and production and gas-gathering activities in its Appalachian region and plans to finance this expansion mostly with debt.

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