S&P assigns Atlas Energy B+, notes B

Standard & Poor's said it assigned its B+ corporate credit rating to Atlas Energy Resources, LLC.

The outlook is stable.

At the same time, the agency said it assigned a B rating to the proposed $400 million senior unsecured notes to be co-issued by Atlas Energy's wholly owned subsidiaries, Atlas Energy Operating Company LLC and Atlas Energy Finance Corp.

According to S&P, the corporate credit rating reflects the company's limited scale and geographic diversity, aggressive financial leverage and substantial quarterly distributions paid to unitholders while these weaknesses are partially offset by the low geological risk inherent in the company's reserve base, a long reserve life and the fee income generated by the company's partnership management business.

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