S&P gives Superior Energy Services notes BB-

Standard & Poor's said it affirmed its BB corporate credit rating on Superior Energy Services Inc. and assigned its BB- senior unsecured rating to the $300 million senior unsecured notes issued by SESI LLC and guaranteed by Superior that are due in 2014.

The outlook is stable.

S&P said that the ratings on Superior reflect its limited geographic diversification, highly cyclical markets and a growing crude oil and natural gas production business, viewed as higher risk than the remainder of Superior's business portfolio.

Solid financial measures, good cash flow generation and moderate required spending needs buffer these weaknesses, the agency noted.

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