S&P: Trident view to negative

Standard & Poor's said it revised the outlook on Trident Resources Corp. to negative from stable.

S&P also said it affirmed its B- long-term corporate credit and B senior unsecured debt ratings on subsidiary, Trident Exploration Corp.

The 2 recovery rating on the unsecured notes is unchanged and indicates an expectation of 70% to 90% expected recovery in a default.

The outlook revision reflects an expectation that weakening gas prices will stress Trident's cash flow such that it would be unable to fund its fixed charges through internally generated funds from operations beyond 2013, S&P said.

The company needs external funding to sustain its current operations into 2014, the agency said.

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