S&P gives SM Energy notes BB

Standard & Poor's said it assigned its BB senior unsecured issue rating to SM Energy Co.'s proposed $400 million senior unsecured notes due 2024.

The recovery rating on the notes is 4.

SM Energy's BB corporate credit rating and stable outlook are unchanged.

"The recovery prospects with respect to the proposed note issuance will be on the low end of the '4' recovery range, and should debt levels or capacity increase, could have a negative effect on the issue and recovery ratings," S&P credit analyst Susan Ding said in a news release.

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