Apache Corp. (APA) Comments on Financial Position and Liquidity
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Apache Corporation Comments on Financial Position and Liquidity
March 27, 2020 7:00 AM EDTHOUSTON, March 27, 2020 (GLOBE NEWSWIRE) -- Apache Corporation (NYSE, Nasdaq: APA) today provided additional information related to the strength of its liquidity position and capital structure in response to Standard and Poors decision yesterday to lower Apaches credit rating.
On March 26, 2020, Standard & Poors reduced Apaches credit rating from BBB to BB+. The primary impact of the ratings change is that Apache will post letters of credit aggregating approximately $650 million related to asset retirement obligations in the U.K. North Sea. While credit ratings serve a valuable purpose and are... More
