DBRS Rates Anadarko Petroleum Corporation’s New Issue at BBB with a Stable Trend
DBRS has today assigned a rating of BBB with a Stable trend to the $750 million 6.20% unsecured senior notes (the Notes), maturing on March 16, 2040, of Anadarko Petroleum Corporation (the Company). The Notes are expected to settle on March 16, 2010.
The Notes will rank equally with the Company’s existing and future unsecured senior debt. The net proceeds will primarily be used to fund a portion of the redemption of up to $1 billion aggregate principal amount of specified series of the Company’s outstanding debt.
Notes:
All figures are in U.S. dollars unless otherwise noted.
The applicable methodology is Rating Oil and Gas Companies, which can be found on the DBRS website under Methodologies.
This is a Corporate (Energy) rating.
For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.