CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated 'AA-' - S&P Global Ratings’ Credit Research

CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated 'AA-'

CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated 'AA-' - S&P Global Ratings’ Credit Research
CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated 'AA-'
Published Jan 12, 2011
1249 words — Published Jan 12, 2011
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About This Report

  
Abstract:

HONG KONG (Standard&Poor's) Jan. 13, 2011--Standard&Poor's Ratings Services said today that it had assigned its 'AA-' issue rating to the proposed issue of U.S. dollar-denominated senior unsecured notes by CNOOC Finance (2011) Ltd. CNOOC Ltd. (AA-/Stable/--) irrevocably and unconditionally guarantees the notes. The company will use the proceeds from the proposed issuance for general corporate purposes. The final rating on the issue is subject to our review of the final issuance documentation. The rating on CNOOC Ltd. reflects the company's strong stand-alone credit profile and Standard&Poor's opinion that there is an "extremely high" likelihood that the government of the People's Republic of China (AA-/Stable/A-1+) will provide sufficient and timely extraordinary support to CNOOC Ltd.

  
Brief Excerpt:

RESEARCH CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated '##-' Publication date: 12-Jan-2011 Primary Credit Analyst: Lawrence Lu, CFA, Hong Kong (852) 2533-3517; law_lu@standardandpoors.com Secondary Contact: Sangyun...

  
Report Type:

Ratings Action

Ticker
883@HK
Issuer
CNOOC Ltd.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers, Structured Finance
Country
Hong Kong
Region
Latin America
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated 'AA-'" Jan 12, 2011. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/CNOOC-Ltd-s-Proposed-U-S-Dollar-Senior-Unsecured-Notes-Rated-AA-843046>
  
APA:
S&P Global Ratings’ Credit Research. (). CNOOC Ltd.'s Proposed U.S. Dollar Senior Unsecured Notes Rated 'AA-' Jan 12, 2011. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/CNOOC-Ltd-s-Proposed-U-S-Dollar-Senior-Unsecured-Notes-Rated-AA-843046>
  
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