S&P rates EXCO notes B

Standard & Poor's said it assigned to EXCO Resources Inc.'s proposed $750 million senior unsecured notes due 2018 a rating of B with recovery rating of 6, indicating 0% to 10% expected recovery in a default.

The proceeds will be used to redeem its $450 million senior notes due 2011 and repay outstanding balances under its secured revolving credit facility, S&P said.

The rating is two notches below the company's BB- corporate credit rating.

The outlook is stable.

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