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Fitch affirms Anadarko, Kerr-McGee
Fitch Ratings said it affirmed Anadarko Petroleum Corp.'s long-term issuer default and senior unsecured rating at BBB- and senior secured revolver at BBB, and Kerr-McGee Corp.'s long-term issuer default and senior unsecured rating at BBB-.
The outlook is negative.
Ratings reflect the company's size and asset position, moderately levered capital structure, strong liquidity as well as its cash flow generating capability, the agency said.
For the last 12 months, unadjusted debt-to-EBITDAX ratio is 1.7 times.
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