Fitch upgrades, withdraws Andeavor

Fitch Ratings said it upgraded the long-term issuer default rating and senior unsecured ratings of Andeavor to BBB from BBB- following the close of the acquisition of Andeavor by Marathon Petroleum Corp., along with the exchange of outstanding Andeavor notes for similar Marathon.

Fitch also said it withdrew Andeavor's ratings, as it will no longer independently exist following the completion of the merger.

The upgrades resolve the Rating Watch positive announced when Marathon said it intended to acquire Andeavor, the agency said.

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