Moody's may lift Kerr-McGee, Western Gas

Moody's Investors Service said it placed under review for possible downgrade Anadarko Petroleum Corp.'s Baa1 long-term debt and Prime-2 commercial paper ratings. It also placed under review for upgrade the Ba2 corporate family and long-term debt ratings of Kerr-McGee Corp. and the Ba1 corporate family and long-term debt ratings of Western Gas Resources, Inc.

The rating reviews are prompted by Anadarko's announcement that it has agreed to acquire both companies in cash tender transactions valued at a total $23.3 billion, including debt assumed.

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