S&P affirms Imperial Oil

S&P said it affirmed its AA+ long-term issuer credit rating, its A-1+ global short-term and commercial paper rating, and its A-1(High) Canadian scale CP rating on Imperial Oil Ltd.

The outlook is negative.

“The ratings reflect our view that Imperial is a core asset to Exxon Mobil Corp. (AA+/negative/A-1+),” S&P said in a news release.

“Our stand-alone credit profile (SACP) on Imperial reflects the company's large oil-focused reserves base, its competitive upstream full-cycle cost profile, and the diversification benefits of its integrated upstream and downstream business segments.”

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