November 19, 2012 at 15:42 PM EST
TEXT -S&P revises W&T Offshore Inc rating
Nov 19 - Standard & Poor's Ratings Services said today it revised its recovery rating on W&T Offshore Inc.'s senior unsecured debt to '4', indicating our expectation of average (30% to 50%) recovery in the event of a payment default, from '3'. The issue-level rating on W&T's unsecured debt remains 'B' (same as the corporate credit rating). The lower recovery expectation reflects the company's increased borrowing base and commitment amounts, which were raised in November 2012 to $725 million f
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