S&P rates SandRidge notes B

Standard & Poor's said it assigned B issue-level and 4 recovery ratings to SandRidge Energy Inc.'s planned senior unsecured $500 million note offering. The recovery rating indicates an expectation of average recovery for lenders in the event of a default.

SandRidge also plans to issue a $250 million tack-on to the company's existing senior unsecured notes rated B due 2021.

The agency said the ratings on SandRidge Energy reflect its view of the company's weak business risk and highly leveraged financial risk, incorporating an aggressive growth strategy demonstrated by capital spending well in excess of internally generated cash flow and by acquisitions.

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