S&P cuts Quicksilver Resources outlook to stable

Standard & Poor's said it revised its outlook on Quicksilver Resources Inc. to stable from positive.

At the same time, the agency said it affirmed all ratings on the company, including the BB- corporate credit rating.

According to S&P, the rating action follows the oil and gas exploration and production company's announcement that it will acquire properties in the Barnett Shale for $1.3 billion, funded with a $700 million second-lien term loan, about $300 million of credit facility borrowings and $300 million of common stock.

S&P noted that the rating on Quicksilver reflects the company's weak business profile and aggressive financial risk profile.

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