Bulletin: Talisman Energy Inc. Ratings Unaffected By Takeover Deal With Repsol S.A.

TORONTO (Standard&Poor's) Dec. 18, 2014--Standard&Poor's Ratings Services today said that its ratings and outlook on Talisman Energy Inc. (BBB-/Stable/A-3) are not affected by the company's recent announcement that it has reached an agreement to be acquired by Repsol S.A. (BBB-/Stable/A-3) for US$13 billion. We expect the sale to close in second-quarter 2015, subject to certain customary conditions, at which point we will focus on the strategic importance of Talisman to Repsol and any guarantee or repayment of debt obligations. The ratings on Talisman reflect the company's "satisfactory" business risk profile and "significant" financial risk profile. Talisman is a geographically diversified independent oil and gas exploration and production company with core operations in North America and southeast

...TORONTO (Standard & Poor's) Dec. 18, 2014--Standard & Poor's Ratings Services today said that its ratings and outlook on Talisman Energy Inc. (###-/Stable/A-3) are not affected by the company's recent announcement that it has reached an agreement to be acquired by Repsol S.A. (###-/Stable/A-3) for US$13 billion. We expect the sale to close in second-quarter 2015, subject to certain customary conditions, at which point we will focus on the strategic importance of Talisman to Repsol and any guarantee or repayment of debt obligations. The ratings on Talisman reflect the company's "satisfactory" business risk profile and "significant" financial risk profile. Talisman is a geographically diversified independent oil and gas exploration and production company with core operations in North America and southeast Asia. The company also has producing assets in the North Sea, Colombia, and Algeria, with exploration activity in Kurdistan. As of Dec. 31, 2013, Talisman had net proved reserves of about...

Bulletin