Moody’s rates Apache senior notes Ba1

Moody’s Investors Service said it assigned a Ba1 rating to Apache Corp.’s proposed senior unsecured notes offering. Apache’s other ratings, including its Ba1 corporate family rating and negative outlook remain unchanged.

The proceeds will be used to fund an announced tender for senior notes and repay revolver borrowings.

“This senior notes offering extends Apache’s debt maturity profile and liquidity runway to weather this period of low oil and gas prices,” said Pete Speer, a Moody’s senior vice president, in a press release.

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