DBRS confirms Occidental

DBRS said it confirmed the A ratings on Occidental Petroleum Corp.'s senior notes, senior debentures and medium-term notes.

DBRS also said it confirmed the company's commercial-paper rating at R-1 (low).

The trends are stable.

The ratings reflect Oxy's strong financial profile, operating efficiency and consistent performance over the past several years, DBRS said.

Oxy's financial profile remains very conservative relative to its peers, largely due to high earnings retention and productive use of cash flow and minimal share repurchases since year-end 2008, the agency said.

© 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.