NEW YORK (Standard&Poor's) April 24, 2012--Standard&Poor's Ratings Services today said it assigned issue-level and recovery ratings to Laredo Petroleum Inc.'s proposed $400 million senior unsecured notes due 2022. The issue rating on the notes is 'B-' (two notches below the corporate credit rating). The recovery rating on this debt is '6', indicating our expectation of negligible (0% to 10%) recovery in the event of a payment default. The company expects to use proceeds to repay outstandings under its revolving credit facility and for general corporate purposes. (For the complete recovery analysis, see Standard&Poor's recovery report on Laredo to be published on RatingsDirect following the release of this report.) The ratings on Laredo Petroleum reflect
