In another blow to the beleaguered energy lending business, Standard & Poor's reduced the ratings of Houston-based oil company KCS Energy Inc. on Tuesday.

The move came after KCS Energy said May 18 it had "substantial doubt" about its ability to continue as a going concern and had agreed with creditors to suspend the repayment schedule of its credit line until June 30.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.