S&P raises Stallion Oilfield

Standard & Poor's said it raised its corporate credit rating on Stallion Oilfield Services Ltd. to CCC+ from D.

The outlook is developing.

The agency said it also raised the rating on the senior secured debt to CCC+ from D and revised the recovery rating on this debt to 3 from 1.

The upgrade on the corporate credit rating reflects Stallion's emergence from bankruptcy and the improvement in the company's capital structure as a result of restructuring its balance sheet, S&P added.

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