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Published on 8/17/2010 in the Prospect News Convertibles Daily and Prospect News Investment Grade Daily.

S&P rates Apache notes A-

Standard & Poor's said it assigned its A- rating to Apache Corp.'s proposed $1 billion senior unsecured note offering due 2040.

The company intends to use proceeds from the offering to repay outstanding amounts under a bridge facility used to finance the acquisition of certain assets from BP plc, the agency said.

According to S&P, the corporate credit rating on Apache is A- and the outlook is stable.


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