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S&P affirms Atlas Energy; outlook negative
Standard & Poor's said it affirmed its ratings, including the B+ corporate credit rating, on Atlas Energy Resources LLC.
At the same time, the agency said it revised the outlook to negative from stable.
"We believe that Atlas Energy's credit profile could worsen because of recent developments at sister company, Atlas Pipeline Partners LP," said S&P credit analyst David Lundberg.
The agency added that it recently placed Atlas Energy's ratings, including the B+ corporate credit rating, on Creditwatch with negative implications due to tightening liquidity and concerns that it could breach a financial covenant.
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