Moody's upgrades Anadarko

Moody's Investors Service said it upgraded Anadarko Petroleum Corp. and its guaranteed subsidiaries' senior unsecured ratings to Baa3 from Ba1.

The outlook is stable.

"The upgrade of Anadarko to Baa3 reflects the company's strong operating momentum and cash flow visibility for repaying the debt incurred to fund the BP settlement," Moody's vice president Pete Speer said in a news release.

"While contingent liabilities remain related to Macondo and Tronox, we believe that the company has sufficient liquidity and marketable assets to manage through these issues without adversely affecting its investment grade ratings," Speer added in the release.

© 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.