S&P changes Statoil outlook

S&P said it revised the outlook on Statoil ASA to positive from stable and affirmed the A+ long-term and A-1 short-term corporate credit ratings.

Simultaneously, the agency revised the outlook on Statoil US Holdings Inc. to positive from stable, in line with the parent, and affirmed the A-/A-2 corporate credit ratings.

S&P also revised the outlook on Statoil Forsikring AS to positive from stable and affirmed the A issuer credit rating.

The agency said the actions reflect the likelihood that S&P would raise the long-term rating on Statoil to AA- if the management takes a conservative stance on growth and shareholder remuneration, supporting maintenance of a ratio of funds from operations to debt sustainably above 60%.

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