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Moody's gives B3 to SandRidge notes
Moody's Investors Service said it assigned a B3 (LGD4, 63%) rating to SandRidge Energy's pending $400 million 10-year senior unsecured note offering.
The B2 corporate family rating was affirmed.
The outlook is stable.
Proceeds will fund the company's pending $800 million acquisition of Permian Basin oil and gas properties from Forest Oil.
Ratings are supported by an improved asset mix, the agency said.
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