S&P rates Regency Gas loans B+, B-

Standard & Poor's said it assigned its B+ corporate credit rating to Regency Gas Services LLC. The outlook is stable. At the same time, S&P assigned ratings to its proposed $290 million credit program.

S&P also assigned its B+ bank loan rating to Regency's proposed $240 million senior secured credit facilities and a B- bank loan rating to Regency's proposed $50 million, six-year senior secured term loan.

The ratings reflect a below-average business profile characterized by a small asset base, modest scale of operations, management's acquisitive growth strategy and participation in the competitive and highly cyclical midstream sector of the oil and gas industry, according to S&P.

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