S&P gives Occidental notes A

Standard & Poor's said it assigned its A rating to Occidental Petroleum Corp.'s proposed new senior unsecured note offering.

The company intends to use proceeds from the offering for general corporate purposes, the agency noted.

The A rating on Occidental reflects the company's large and geographically diverse oil and gas reserve base, substantial long-lived assets in the U.S. with relatively low geological risk, a track record of generating substantial discretionary cash flow in most commodity price environments, some business diversification provided through its midstream and chemicals business segments, and a modest financial risk profile, the agency added.

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