Moody’s: Anadarko, Western Gas view to stable

Moody's Investors Service said it changed the outlook for Anadarko Petroleum Corp. and its guaranteed subsidiaries to stable from negative.

At the same time, the agency affirmed the company’s Ba1 corporate family rating and Ba1 senior unsecured ratings, and raised the speculative grade liquidity rating to SGL-2 from SGL-3.

Concurrently, Moody's changed the outlook for Western Gas Partners, LP to stable from negative and affirmed its Ba1 corporate family rating, Ba1 senior unsecured ratings and SGL-3 rating.

"Anadarko's substantial asset sales and refinancing transactions completed to date have greatly lowered its refinancing requirements for 2016 and 2017, which combined with good prospects for further asset sales should allow the company to fund negative free cash flow and reduce debt," Moody's senior vice president Pete Speer said in a news release.

"The company's equity funded acquisition of deepwater producing properties adds cash flows to 2017, further supporting the stable outlook."

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