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S&P lifts Pioneer Drilling
Standard & Poor's said it raised its corporate credit rating on Pioneer Drilling Co. to B+ from B.
The outlook is stable.
At the same time the agency said it revised the rating on the company's senior unsecured debt to B+. The recovery rating on the company's senior unsecured debt remains 4.
"We upgraded Pioneer Drilling Co. to reflect the company's improved operating performance and enhanced asset base," said S&P credit analyst Lawrence Wilkinson in a news release.
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