S&P upgrades Equinor

S&P said it raised its long- and short-term issuer credit ratings on Equinor ASA, formerly Statoil ASA, to AA-/A-1+ from A+/A-1.

The outlook is stable.

The agency also raised its issue ratings on Equinor's senior unsecured debt instruments to AA- from A+.

At the same time, S&P raised the long-term issuer credit rating on Statoil Forsikring AS to A+ from A.

“The upgrade reflects a view that currently supportive market conditions will enable Equinor to build meaningful headroom in its credit metrics, allowing it to sustain FFO to debt averaging 60% or higher,” the agency said in a news release.

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