We have assigned our 'B' corporate credit rating to U.S.-based exploration and production company Northern Oil and Gas Inc. We have assigned our 'B' issue rating and '4' recovery rating to the company's $250 million senior unsecured notes due 2020. The stable outlook reflects our expectations that the company will manage its aggressive capital spending in a manner that does not significantly erode its credit protection measures. On May 9, 2012, Standard&Poor's Ratings Services assigned its 'B' corporate credit rating to Wayzata, Minn.-based Northern Oil&Gas Inc. (NOG). The outlook is stable. At the same time we assigned our 'B' issue rating to Northern Oil&Gas's proposed $250 million senior unsecured notes due 2020. The recovery
