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BULLETIN: Spain-Based Repsol-YPF to Exercise Call on BP PLC Hydrocarbon Reserves in Trinidad Sep 02
Standard & Poors, Sep 2002
Abstract
Standard & Poor's Ratings Services said today that Repsol-YPF S.A.'s (Repsol; BBB/Negative/A-3) announced intention to exercise its call on certain of BP PLC's hydrocarbon reserves in Trinidad and Tobago would leave the ratings on the Spain-based integrated oil company unchanged. The current ratings already anticipate the exercise of this call, which is consistent with Repsol's strategy of strengthening its gas integration in a promising region. The reserves could triple Repsol's upstream reserves, at the same time as the start-up of two liquefaction trains (each owned 25% by Repsol) in 2002 and 2003. Trinidad is well known to the company, which locally owns reserves (245 million barrels of oil equivalent at year-end 2001, equivalent to 4.4% of its global reserves) and...
Companies mentioned in this report are: Repsol-YPF S.A.,BP PLC
Action: S&P Event
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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