We are revising our outlook on MEG Energy Corp. to stable from negative. We believe that the improved oil price environment, combined with the company's expected ramp-up in production to commercial levels in 2010, should ensure credit measures will remain in line with the rating. MEG has raised additional equity through 2009 ensuring adequate liquidity as it moves toward design capacity production levels We affirmed the 'BB-' corporate credit rating on the company. On Dec. 3, 2009, Standard&Poor's Ratings Services revised its outlook on Calgary, Alta.-based MEG Energy Corp. to stable from negative. At the same time, Standard&Poor's affirmed its 'BB-' long-term corporate credit rating and its 'BB+' first-lien bank rating on the company. The recovery
