We are affirming our 'B' corporate credit rating on U.S.-based oil and gas exploration and production company Laredo Petroleum Inc. following its 2017 capital budget announcement and recent debt repayments, which resulted in improved expectations for leverage in 2017 and 2018. At the same time, we are affirming our 'B' issue-level rating on Laredo's senior unsecured debt. The recovery rating remains '4'. The stable outlook reflects our expectation that Laredo will be able to maintain adequate liquidity and credit measures appropriate for the current rating over the next one to two years. On Jan. 31, 2017, S&P Global Ratings affirmed its 'B' corporate credit rating on Tulsa, Okla.-based exploration and production (E&P) company Laredo Petroleum Inc. The outlook is stable.
