S&P: Whiting Petroleum view stable

Standard & Poor's said it revised the outlook on Whiting Petroleum Corp. to stable from negative and affirmed the corporate credit rating at BB-.

The agency affirmed Whiting's subordinated notes at BB- and revised the recovery rating to 4 from 3.

The outlook revision reflects the announcement that Whiting recently closed on a new credit facility, which increased the borrowing commitments to $1.042 billion from $900 million, resulting in availability of $429 million, according to the agency.

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