S&P assigns CCC+ to Rice Energy notes

Standard & Poor's said it assigned its B- corporate credit rating to Rice Energy Inc. The outlook is positive.

S&P also assigned a CCC+ issue-level rating to Rice's planned $750 million senior unsecured notes due 2022. S&P assigned this debt a 5 recovery rating, indicating an expectation of modest (10% to 30%) recovery in the event of a payment default.

"The positive outlook reflects the potential for an upgrade if Rice continues to expand production in the Marcellus shale while successfully developing its asset base in the Appalachian Basin," said S&P credit analyst Mark Salierno in a news release. "Should this occur, we would reassess the comparable rating modifier."

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