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DBRS confirms Anadarko
DBRS said it confirmed Anadarko Petroleum Corp.'s BBB issuer rating, its BBB (low) senior note rating and Kerr-McGee Corp.'s BBB (low) senior note rating, all with stable trends.
Anadarko recently paid $4 billion to BP plc to settle BP's current and future claims against Anadarko associated with the Deepwater Horizon oil spill in the Gulf of Mexico in April 2010. DBRS said the settlement amount is in line with its prior expectations and removes the uncertainty of future liabilities due to BP associated with the Deepwater Horizon event.
The company funded the settlement with cash on the balance sheet and through its $5 billion five-year secured credit facility, according to DBRS.
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