Moody’s assigns Rice Energy notes B3

Moody's Investors Service said it assigned a B3 rating to Rice Energy Inc.'s proposed offering of $400 million of senior unsecured notes due 2023.

At the same time, the company's speculative grade liquidity rating was changed to SGL-2 from SGL-3.

Rice's B2 corporate family rating and other debt ratings are unaffected and the outlook remains positive.

Proceeds will be used to fund capital expenditures.

"The change to Rice's SGL rating reflects the company's improved liquidity profile as a result of proposed bond offering, with strong pro forma cash balances and credit facility availability to fund the company's cash flow outspending," Moody's vice president Gretchen French said in a news release.

"Our positive outlook on Rice reflected in our March 19, 2015 rating action remains unchanged."

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