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S&P may downgrade Marathon Oil on planned split

SAN FRANCISCO (MarketWatch) — Standard & Poor’s said late Thursday it may downgrade the ratings of Marathon Oil Corp. on the company’s plan to split its upstream and downstream businesses into two independent companies. S&P has a BBB+ rating on Marathon. The rating agency said the current integration of the businesses provide synergies and a diversification of cash flows for Marathon. “However, if the upstream and downstream businesses were to be evaluated as stand-alone entities, the individual corporate credit ratings could potentially be lower than Marathon’s current rating,” said Jeffrey Morrison, an S&P credit analyst, in a statement.
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Original post by Forextvblog

This entry was posted on Thursday, July 31st, 2008 at 2:43 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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