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S&P ups Rosetta Resources
Standard & Poor’s said it affirmed its BB- corporate credit rating on Rosetta Resources Inc. The outlook is stable.
At the same time, S&P raised the senior unsecured debt to BB- (same as the corporate credit rating) from B+ and revised the recovery rating to 4, indicating an expectation of average recovery (30% to 50%) in the event of a payment default, from 5.
“The ratings on Houston-based Rosetta Resources Inc. reflect our assessments of the company’s ‘significant’ financial risk, ‘weak’ business risk, and ‘adequate’ liquidity,” said S&P credit analyst Paul Harvey in a news release.
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