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S&P Affirms Ratings on CNOOC Ltd. (CEO); Sees Cost Controls, Prudent Spending Withstanding Low Price Environment
April 23, 2015 9:11 AM EDTStandard & Poor's Ratings Services said today that it had affirmed its 'AA-' long-term corporate credit rating on CNOOC Ltd. CNOOC Ltd. (NYSE: CEO). The outlook is stable. We also affirmed our 'cnAAA' long-term Greater China regional scale rating on the third-largest oil exploration and production company in China. We also affirmed our 'AA-' issue rating and 'cnAAA' Greater China regional scale rating on the senior unsecured notes that CNOOC Ltd. guarantees.
"We affirmed the ratings because we expect CNOOC Ltd.'s effective cost controls and prudent capital spending to help the company withstand a... More
