Moody's: Anadarko unchanged

Moody's Investors Service said that Anadarko Petroleum Corp.'s plan to undertake a share repurchase program will not affect the company's Baa3 long-term debt rating or its stable outlook.

Anadarko announced on Aug. 25 that its board approved an authorization to repurchase of up to $5 billion of its common stock over the next three years, the agency said.

Anadarko has largely restructured its upstream asset base and is generating stronger than anticipated cash flow from operations in 2008, benefiting from higher oil and natural gas prices and rising production volumes, Moody's added.

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