Fitch revises Anadarko to negative

Fitch Ratings said it affirmed the long-term issuer default rating for Anadarko Petroleum Corp. and Kerr-McGee at BBB.

Anadarko's short- term issuer default rating and commercial paper rating were downgraded to F3 from F2.

The outlook was revised to negative from stable.

About $12.7 billion of debt, excluding non-recourse debt at Western Gas Partners, is affected by this action.

Ratings for Anadarko are supported by the company's significant production scale, demonstrated asset quality, strong track record as a quality upstream operator, adequate liquidity position, and successful history of asset development and monetization, Fitch said.

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