Moody's changes Shell outlook to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed the Aa2 issuer rating of Royal Dutch Shell plc and its guaranteed subsidiaries.

Concurrently, Moody's affirmed the Aa2 issuer rating of Shell Finance (Netherlands) BV, the Aa3 issuer rating of Shell Oil Co. and the A2 issuer rating of Shell Energy North America (US), all wholly owned subsidiaries of Shell.

"Stabilizing the outlook on Shell's ratings reflects our expectation that the company's earnings and financial profile will recover to the levels required for the Aa2 rating in 2021. In addition to improving market conditions, Shell's measures to protect its cash flow generation and balance sheet initiated in 2020 support a sustainable recovery of its credit metrics over the next 12-18 months," said Sven Reinke, a Moody' senior vice president, in a press release.

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