Fitch rates Aker BP notes BBB

Fitch Ratings said it assigned Aker BP ASA’s upcoming dollar-denominated notes an expected senior unsecured rating of BBB-.

“Aker BP ASA’s BBB- long-term issuer default rating and stable outlook reflect Fitch’s expectation that the company should be able to maintain leverage in line with Fitch’s rating sensitivities despite low oil prices,” Fitch said in a press release.

Proceeds will be used to redeem the company’s 2022 bond, partially repay amounts under the revolving credit facility and possibly increase the liquidity buffer.

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