Marathon Petroleum Corporation

... ratings reflect its low parent-level debt, status as the largest independent refiner in the U.S. with a high-quality, flexible asset base, reasonable financial metrics, solid midstream results and the business diversification through ownership of MPLX LP (BBB/Stable). These are partly offset by recent weakness in refining macro conditions and compression in crude oil spreads, overcapacity in the renewable diesel market, a focus on shareholder distributions, and ongoing regulatory pressures which Fitch Ratings expects will cap future refined product demand....

Rating Report