S&P rates Husky Energy notes BBB+

Standard & Poor's said it assigned a BBB+ debt ratings to Husky Energy Inc.'s (BBB+/stable) proposed $750 million senior unsecured notes due 2014 and $750 million senior unsecured notes due 2019.

"The ratings on Husky reflect the company's strong internal growth prospects; a competitive full-cycle cost profile; the reduced heavy oil exposure and diversification benefits from Husky's upgrader, other midstream, and the expanded downstream segment; and an intermediate financial risk profile," S&P analyst Jamie Koutsoukis said in a statement.

The company benefits from a significant number of low-risk reserve opportunities, which should continue to generate strong growth and reserve replacement statistics, the agency noted.

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