Moody’s lifts Shell Energy

Moody's Investors Service said it affirmed the Aa2 issuer ratings of Royal Dutch Shell plc and its guaranteed subsidiaries.

The outlook remains stable.

At the same time, Moody's upgraded to A2 from A3 the issuer rating of Shell Energy North America (US), LP, a wholly owned subsidiary of Shell.

Moody's also affirmed the Aa2 issuer ratings of Shell Finance (Netherlands) BV and Aa3 issuer rating of Shell Oil Co.

“The upgrade of SENA's rating to A2 from A3 reflects the strategic importance of the subsidiary for Shell's North American gas operations, the risk control oversight by Shell, the funding and liquidity support it receives from Shell and the gradually declining debt levels driven by the full amortisation of the power project related debt by 2024,” the agency said in a news release.

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