Moody's Improves Outlook on Anadarko Debt

The mood of Moody's Investor Service has brightened in regard to the senior unsecured debt of Anadarko Petroleum (NYSE: APC  ) . The agency flipped its outlook on such obligations from stable to positive, while affirming the existing Baa3 rating. 

In the press release announcing the news, Moody's Vice-President Pete Speer was quoted as saying the change was because the company's "strong operating performance and improving financial position support its positive outlook."

The ratings service added that both the amount of Anadarko's proved reserves and the scale of its production are among the most significant in the independent exploration and production segment. Debt ratings affect how much a company pays to borrow money.

At the end of its most recently reported quarter, the company had nearly $4.6 billion in cash and short-term investments. Its long-term debt stood at $13.5 billion.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2672358, ~/Articles/ArticleHandler.aspx, 9/22/2014 12:33:21 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement