Moody's Improves Outlook on Anadarko Debt

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The mood of Moody's Investor Service has brightened in regard to the senior unsecured debt of Anadarko Petroleum . 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.

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The article Moody's Improves Outlook on Anadarko Debt originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Moody's. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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