TEXT - Forest Oil rating unchanged after sale of properties

Jan 7 - Standard & Poor's Ratings Services said today its corporate credit rating on Forest Oil Corp. (Forest; B+/Stable/--) remains unchanged following the company's announcement that it has entered into a definitive agreement to sell its South Texas properties (excluding Eagle Ford acreage) for after-tax proceeds of $325 million. The company intends to use these proceeds to pay down debt. We believe the loss of EBITDA related to these assets will be approximately $40 million per year over the