S&P: Sabine view to negative

Standard & Poor’s said it revised the outlook to negative from stable on Sabine Oil & Gas LLC and affirmed its B corporate credit rating.

S&P said it affirmed the CCC+ rating on the company’s senior unsecured notes with the 6 recovery rating unchanged.

The outlook revision follows a reduction in the agency’s oil- and natural-gas price assumptions, the agency said.

S&P said it expects the company’s credit measures to weaken due to lower commodity prices.

The ratings also reflect the company’s weak business risk and highly leveraged financial risk, the agency said.

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