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S&P rates ConocoPhillips notes A
S&P said it assigned an A rating to ConocoPhillips’ proposed unsecured notes. Subsidiary ConocoPhillips Co. will guarantee the notes.
The notes will be issued in exchange for Concho Resources Inc.’s senior unsecured notes, which ConocoPhillips is acquiring.
“Our issuer credit rating on ConocoPhillips and our issue-level ratings on its unsecured debt are unaffected by this proposed transaction,” S&P said in a press release.
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