S&P: Basic Energy positive

Standard & Poor's said it revised its outlook on Basic Energy Services Inc. to positive from stable.

At the same time, the agency affirmed its ratings on Basic, including the B+ corporate credit rating.

"The positive outlook reflects Basic's improved market position, profitability and credit metrics since the industry trough in 2009 and our expectation that market conditions will continue to support operating performance despite some weakening in 2012," said S&P credit analyst Christine Besset in a news release.

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