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S&P revises Iron Horse to negative
S&P said it revised its outlook on Iron Horse Insurance Co. to negative from stable and affirmed its A+ financial strength and long-term counterparty credit ratings.
On Sept. 13, the agency affirmed its ratings on Chevron Corp., including the AA- long-term corporate credit, and revised the outlook to negative from stable. The revised outlook reflects its view that Chevron's credit measures will be weak for expectations for a AA- rating through 2017.
"The ratings and outlook on Iron Horse reflect our view that the company is highly strategic to Chevron Corp. under our group methodology criteria," S&P credit analyst Jeff Pusey said in a news release.
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