Moody's: Canadian Natural Resources notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Canadian Natural Resources Ltd.'s C$500 million senior unsecured notes.

All other ratings are unchanged and the outlook is stable.

The proceeds of the notes will be used to reduce borrowings under the company's C$4.5 billion committed revolving credit facility.

Moody's said Canadian Natural Resources' Baa1 senior unsecured rating reflects its large, diversified production platform, which is poised to grow significantly through 2018, its large inventory of projects that allow flexibility and capital efficiency and favorable cash returns given its oil-weighted production.

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