Fitch assigns Anadarko notes BBB-

Fitch Ratings said it assigned a rating of BBB- to Anadarko Petroleum Corp.'s issuance of senior notes due 2024 and 2044.

The issuance is to refinance debt that matured earlier this year and for general corporate purposes.

The outlook is positive.

Fitch said the current ratings reflect Anadarko's large size, high-quality asset position worldwide, modestly levered capital structure and strong liquidity position.

The company had nearly 2.8 billion barrels of proved reserves at the end of 2013 making it one of the world's largest independent exploration and production companies. At year-end 2013, more than 70% of the proved reserves were developed and production is currently expected to be over 800,000 barrels of oil equivalent per day for 2014, which would mark six straight years of production increases.

As of March 31, Anadarko's balance sheet debt levels stood at about $15 billion.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.