NEW YORK (Standard&Poor's) Feb. 3, 2010--Standard&Poor's Ratings Services said today that it assigned its issue-level and recovery ratings to Hilcorp Energy I L.P.'s proposed $300 million senior notes due 2020. The issue-level rating is 'BB-' (the same as the corporate credit rating). At the same time, we assigned a recovery rating of '3', indicating our expectation of meaningful (50%-70%) recovery in the event of a payment default. "Our recovery analysis incorporates Hilcorp's plans to use the proceeds from the proposed notes offering to, among other things, repay outstanding balances under its revolving credit facility and fund recent and pending acquisitions," said Standard&Poor's credit analyst Patrick Lee. Please see the updated recovery report to be
