NEW YORK (Standard&Poor's) March 4, 2015--Standard&Poor's Ratings Services today assigned its 'B' issue-level rating to Laredo Petroleum Inc.'s proposed $350 million senior unsecured notes. The recovery rating on the notes is '5', indicating our expectation for modest (high end of the 10% to 30% range) recovery in the event of a payment default. In addition, the issue-level ratings on the company's existing senior unsecured debt remain unchanged at 'B' with a recovery rating of '5'. The company plans to use the proceeds from the notes issuance, along with proceeds from the recently announced common equity offering, to repay outstanding revolver drawings, redeem the $550 million senior unsecured notes due 2019, and for general corporate purposes. We
