S&P rates Rex Energy notes B-

Standard & Poor's said it assigned its B corporate credit rating to Rex Energy Corp. The outlook is stable.

The agency said it also assigned a B- issue-level rating to Rex's planned $250 million senior unsecured notes due 2020. The agency assigned this debt a 5 recovery rating, indicating an expectation of modest recovery in the event of a payment default.

"The ratings on Rex Energy Corp. reflect our assessment of the company's vulnerable business risk profile and its highly leveraged financial risk," said S&P credit analyst Marc Bromberg in a news release.

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