DBRS upgrades Anadarko, Kerr-McGee

DBRS said it upgraded the senior notes and debentures of Anadarko Petroleum Corp. and subsidiary Kerr-McGee Corp. to BBB from BBB (low). Anadarko’s issuer rating is unchanged at BBB. All trends are stable.

The agency said the rating action reflects the removal of the structural subordination of the unsecured notes after the company replaced its secured credit facility with two unsecured facilities.

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