NEW YORK (Standard&Poor's) May 13, 2015--Standard&Poor's Ratings Services said today that that its 'B-' issue-level rating on Wayzata, Minn.-based Northern Oil and Gas Inc.'s (NOG) senior unsecured notes remains unchanged following the company's $200 million add-on to its existing senior unsecured notes due 2020. The recovery rating on the notes remains '5', indicating our expectation of modest (in the lower end of the 10% to 30% range) recovery in the event of a payment default. Our corporate credit rating on Northern Oil and Gas remains 'B'. The outlook is stable. The exploration and production company intends to use proceeds to repay borrowings under its credit facility and for general purposes. The ratings on Northern Oil and
