STANDARD & POOR'S OFFERS FINANCIALLY STABLE U.S. OIL AND GAS CREDIT RATINGS OUTLOOK AS U.S. ECONOMY SLOWLY RECOVERS

摘要

Almost 70% of U.S. oil and natural gas companies that Standard & Poor's rates hold a "stable" credit rating, Thomas Watters, managing director of S&P's Ratings Services, said during a March 30 conference call to discuss S&P's Credit Outlook for North American Oil and Gas. Twenty-one percent hold a negative rating, while 2% of companies have a developing rating, 2% have a positive rating, 3% are on a credit watch to have a positive rating and 3% have a credit watch for a negative rating. The exploration & production (E&P) sector is the most stable (73% are stable, 19% negative), compared to 66% of companies in the contract drilling and oilfield services sector that have a positive rating (25% with a negative rating). Only 58% of refining and marketing sector companies have a stable rating and 26% have a negative rating. For every oil and gas company that was downgraded to a lower credit rating during 2010 and in year-to-date 2011, 1.6 companies were upgraded, Watters noted.