Moody’s gives Shell Group Aa2

Moody's said it assigned a first-time long-term issuer rating of Aa2 and stable outlook to Shell Group Holding Ltd. (SGH), a direct 100%-owned subsidiary of Shell plc, also rated Aa2 stable, and the main holding company for essentially all of Shell's assets and operations.

“The Aa2 rating reflects that SGH's credit profile is as strong as Shell's because it comprises essentially all assets and operations. SGH and subsidiaries have materially lower external debt as the scope does not include Shell's principal capital markets debt issuing entity Shell International Finance BV (SIF), which represents most of Shell's Moody's-adjusted debt,” the agency said in a press release.

The outlook reflects its parent’s stable outlook, Moody’s said.

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