S&P: Anadarko outlook stable

Standard & Poor's said it revised its outlook on Anadarko Petroleum Corp. to stable from negative and affirmed its BBB- corporate credit and senior unsecured debt ratings on the company.

"The revised outlook is based on Anadarko's announcement that it has entered into a settlement agreement with BP Exploration and Production Inc. in which it will pay $4 billion and transfer its 25% interest in the Macondo oil well," said S&P credit analyst Patrick Jeffrey in a news release.

In exchange, BP has agreed to release its claims against Anadarko for all invoiced and future costs related to Macondo, and has fully indemnified Anadarko for its material future liabilities, according to the release.

As a result, S&P said it expects Anandarko's key credit measures and liquidity will remain in line with the current rating over the next one to two years.

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