S&P: Chevron unaffected

Standard & Poor's said the corporate credit rating on Chevron Corp. (AA/stable/A-1+) is unaffected by the company's announced three-year $15 billion common stock buyback program.

Given commodity prices, S&P said it expects Chevron's credit measures to remain strong in 2007 despite its $20 billion capital budget and potentially larger amount of share repurchases.

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