Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Chevron Corp. > News item |
Fitch places Hess on positive watch
Fitch Ratings said it placed its BBB ratings for Hess Corp. and its senior unsecured debt on rating watch positive following the announcement that Chevron Corp. agreed to buy the company in a $60 billion deal.
The deal is expected to close in the first half of 2024.
“Hess will become a part of a significantly larger and more diversified oil and gas company after the transaction is completed. Chevron will increase its already large production scale (3 million barrels of oil equivalent in 2Q23) by Hess's volumes (387 thousand barrels of oil equivalent in 2Q23) and improve diversification with the addition of growing offshore Guyana assets, Bakken shale exposure and other assets,” the agency said in a press release.
Fitch said it aims to resolve the RWP once the deal closes.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.