Fitch rates ConocoPhillips notes A

Fitch Ratings said it has assigned an A rating to ConocoPhillips' issuance of senior unsecured notes.

The company expects to use the net proceeds to redeem $1.5 billion of 4.6% notes due 2015 and for general corporate purposes, the agency said.

According to Fitch, ConocoPhillips' ratings reflect the company's size and scale as the largest North American independent, with 2013 production of 1.502 million boepd, substantially larger than next largest independents.

The ratings are also supported by the company's high leverage to liquids, good operational metrics, ample liquidity and adequate debt metrics for the rating category, the agency added.

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