DBRS confirms Chevron

DBRS said it confirmed the AA senior unsecured notes and debentures ratings of Chevron Corp.

The trend is stable.

Ratings are supported by the company's very strong financial profile, the scale and diversity of its integrated operations and its sizable portfolio of upstream growth projects, the agency said.

Challenges include relatively high reserve replacement costs, mature U.S. reserves and production and political risks related to the company's international operations, the agency noted.

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