S&P keeps Fairmount on watch

Standard & Poor's said its ratings, including the BB- corporate credit rating, on Fairmount Minerals Ltd. remain on CreditWatch with positive implications. The ratings were initially placed CreditWatch Sept. 23.

S&P said the CreditWatch listing indicates the one-in-two likelihood that the agency will upgrade the company after the completion of its review.

"The continued positive CreditWatch listing reflects our expectation that Fairmount's near-term operating performance will be better than we previously expected because of a combination of strong demand growth and capacity expansions in the midst of a constrained supply market for sand used in oil and gas drilling," said S&P credit analyst Gayle Bowerman in a news release.

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