S&P: Murray Energy notes B-

Standard & Poor's said it assigned a B- rating and 5 recovery rating to Murray Energy Corp.'s $400 million 9½% second-lien secured notes due 2020.

The 5 recovery rating indicates 10% to 30% expected default recovery.

The company said it withdrew the B- rating and 5 recovery rating on the $400 million second-lien term loan due 2020, which was refinanced by the second-lien notes.

The BB- rating and 1 recovery rating on the company's $1.02 billion term loan and the B- rating and 5 recovery rating on its $350 million 8.65% second-lien notes are unchanged.

The B corporate credit rating and stable rating outlook are unchanged.

The ratings reflect the company's weak business risk profile and highly leveraged financial risk profile, S&P said.

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