S&P rates Sabine Pass notes BB+

Standard & Poor's said it assigned its BB+ project issue rating and 3 recovery rating to Sabine Pass Liquefaction LLC's proposed $1 billion senior secured notes due 2020.

S&P also affirmed the BB+ debt issue ratings and 3 recovery ratings on the company's existing senior secured credit facilities and notes.

The outlook is stable.

"It is possible that a larger amount could be issued, but we would expect a similar matching reduction of credit facility capacity that would leave the overall debt level and financial measures largely the same," said S&P credit analyst Terry Pratt in a news release.

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