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Atlantic Richfield Co. Upgraded, Off CreditWatch Positive; Vastar Resources Still on Watch Pos Apr 00
Standard & Poors, April 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) April 18, 2000--Standard & Poor's today raised its ratings for Atlantic Richfield Co. (ARCO) and related entities (see list below), with the exception of 82% ARCO-owned Vastar Resources Inc. The ratings on Vastar Resources remain on CreditWatch with positive implications (see list), while the ratings on ARCO and all other related entities are removed from CreditWatch with positive implications, where they were placed on March 31, 1999. Also, Standard & Poor's affirmed its ratings for BP Amoco PLC and related entities. The outlook is stable. The ratings actions follow completion of BP Amoco's protracted $27 billion all-stock acquisition of ARCO, which creates the world's third-largest oil company. In addition, Standard & Poor's expects BP...
Companies mentioned in this report are: Atlantic Richfield Co.,BP Products North America Inc.,ARCO Pipeline Co.,BP PLC,Standard Oil Co.,BP Overzee B.V.,BP Finance Australia Ltd.,Union Texas Petroleum Holdings Inc.,BP Capital Markets America Inc.,BP Canada Energy Co.,Vastar Resources Inc.
Action: Upgraded, Off CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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