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TEXT-S&P rates Southwestern Energy proposed notes
2012年2月29日 / 晚上8点34分 / 6 年前

TEXT-S&P rates Southwestern Energy proposed notes

Feb 29 - Standard & Poor's Ratings Services said today it has assigned its
'BBB-' issue-level rating to Houston-based Southwestern Energy Co.'s proposed
senior unsecured notes due 2022. The company expects to use the proceeds to
repay borrowings under its $1.5 billion unsecured revolving credit facility
($823 million drawn as of Feb. 23, 2012), with any remainder going to fund
capital expenditures. 	
The ratings on U.S. oil and gas exploration and production company 	
Southwestern Energy reflect our view that U.S. natural gas prices will remain 	
weak near-term and our estimate that the company will outspend funds from 	
operations in 2012 and 2013 to develop its core assets and pursue new 	
ventures. Nevertheless, we expect that Southwestern Energy's leverage measures 	
will remain moderate for the rating category, with FFO/debt above 40%. For 	
more details, see our summary analysis published Dec. 14, 2011, on 	
Southwestern Energy Co.	
 Corporate credit rating                   BBB-/Stable/--	
New Rating	
 Proposed sr unsecd nts due 2022           BBB-

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