DBRS ends ConocoPhillips review

DBRS said it removed the issuer rating of ConocoPhillips from under review with negative implications, where it was placed on March 26. At the same time, DBRS Morningstar confirmed Conoco’s issuer rating at A with a negative trend.

“Today’s rating action follows DBRS Morningstar’s review of the company’s business risk profile and financial forecast under the revised commodity price assumptions,” DBRS said in a press release.

The agency cited the company’s size, large low-cost resource base, above-average geographic diversification and high level of capital and operating flexibility.

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