S&P rates SandRidge notes B-

Standard & Poor's said it assigned its B- rating and five recovery rating SandRidge Energy Inc.'s proposed $300 million senior unsecured note issuance.

SandRidge's corporate credit rating is B and the outlook is stable, the agency said.

"The ratings on SandRidge reflect its highly leveraged financial profile and geographic concentration in the Pinon Field in West Texas, as well as its expectation that near-term natural gas prices will remain weak," said credit analyst David Lundberg.

SandRidge's competitive finding and development costs, strong hedge positions and experienced management team only partially offset the weaknesses, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.