S&P ups Black Elk Energy

Standard & Poor's said it raised its senior secured debt ratings on Black Elk Energy Offshore Operations LLC to B from B-.

The agency said it revised the recovery rating on this debt to 2, indicating an expectation for substantial recovery in the event of a payment default, from 4.

S&P said the revised recovery rating reflects changes to the company's reserve values following recent acquisitions and changes to its capital structure.

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