S&P: Express Energy unchanged

Standard & Poor's said its ratings on Express Energy Services Operating LP (B/stable) would not be affected by the announcement that its new senior revolving credit facility will close at $22.5 million from a previously contemplated $35 million.

Issue and recovery ratings for Express Energy's senior secured credit facilities remain unchanged at B+, one notch above the corporate rating, and 2, respectively, the agency said.

S&P added that these ratings indicate its expectation for substantial recovery in the event of a payment default.

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