On Nov. 1, 2002, Standard & Poor's Ratings Services revised its outlook on Talisman Energy Inc. to stable from positive, following the company's announcement of its intention to sell its 25% ownership interest in Sudan's Greater Nile Oil Project and use the proceeds of C$1.2 billion (US$758 million) to repurchase common shares. Standard & Poor's also affirmed its triple-'B'-plus long-term corporate credit and senior unsecured debt ratings, and its triple-'B'-minus preferred securities rating on the company. The ratings reflect Talisman's competitive position, drill-bit- and acquisition-focused growth strategy, and conservative financial risk profile. Risks associated with Talisman's high-growth strategy are balanced with low geologic risk in most of the company's major projects, increasing diversification, and its long history of adhering to
