Fitch affirms Occidental

Fitch Ratings said it affirmed Occidental Petroleum Corp.'s issuer default rating at A, senior unsecured bank facility at A, senior unsecured debt at A, commercial paper at F1 and short-term issuer default rating at F1.

The outlook is stable.

Ratings reflect the company's strong operational track record, diverse portfolio of properties, significant exposure to oil and natural gas liquids, strong cash flow generation and rock-bottom debt levels, the agency said.

Credit concerns are minimal, Fitch said, and center on the possibility of a large, leveraging transaction, a sustained collapse in oil prices and the potential volatility introduced by the recent acquisition of energy trader Phibro.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.