Moody's ups SandRidge notes to B2, new notes B2

Moody's Investors Service said it upgraded SandRidge Energy Inc.'s corporate family rating to B1 and its senior unsecured note rating to B2.

Moody's also assigned a B2 rating to the company's new $750 million senior unsecured note offering and a SGL-3 speculative grade liquidity rating.

The outlook is stable.

"SandRidge's leveraged financial position and aggressive financial policies constrain the company's rating," Moody's senior credit officer Stuart Miller said in a news release. "If not for the elevated leverage level, the scale of the SandRidge's operations, and its growth profile, could support a higher ratings level."

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