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DBRS: Anadarko, Kerr-McGee senior unsecured at BBB-
DBRS said it has updated the rating report of Anadarko Petroleum Corp. (Anadarko or the Co.) and Kerr-McGee Corp.
The senior unsecured debt ratings of both companies are one notch below that of the issuer rating of Anadarko (BBB) given that the existing five-year, $5 billion secured credit facility ranks ahead of the unsecured notes and debentures, the agency said.
The credit quality of Anadarko is based on its large asset base, balanced production between oil and gas and low political exposure owing to its largely North American operations, DBRS added.
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