S&P lifts Rice Energy, notes

Standard & Poor's said it raised its corporate credit rating on Rice Energy Inc. to B from B-. The rating outlook is stable.

The agency also raised its issue-level rating on the company's existing $900 million senior unsecured notes to B- from CCC+. The recovery rating remains unchanged at 5, indicating an expectation for modest (the higher end of the 10% to 30% range) recovery in the event of a payment default.

"The upgrade reflects our belief that the meaningful growth in 2014 of Rice Energy's reserves and production should continue into 2015," S&P credit analyst Daniel Krauss said in a news release.

"The company's proved reserves and production levels are now more in line with its B-rated peers, although the company has less geographic and product diversity."

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