S&P ups, pulls Indigo ratings

S&P said it raised Indigo Natural Resources LLC’s issuer rating to BB from B+ and removed it from CreditWatch, where it was placed with positive implications on June 2.

The outlook is positive, the same as the outlook on Southwestern Energy Co., which closed its acquisition of Indigo. The agency withdrew Indigo’s issuer rating.

“We are raising the rating on Indigo's senior unsecured notes that were not part of the exchange to BB from BB- and removing the rating from CreditWatch. We have subsequently withdrawn the issue-level rating,” S&P said in a press release.

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