On May 11, 2005, Standard & Poor's Ratings Services assigned its 'BBB+' senior unsecured debt rating to Talisman Energy Inc.'s 5.125% 10-year US$375 million and 5.75% 30-year US$125 million bond issues. Standard & Poor's also affirmed its existing 'BBB+' long-term corporate credit and senior unsecured debt ratings on the company. The outlook is stable. The ratings on Calgary, Alta.-based Talisman Energy Inc. reflect the company's competitive position, drill-bit-focused growth strategy, and conservative financial risk profile. Risks associated with Talisman's growth strategy are balanced by the company's low geological risk in most of its major projects, its increasing diversification, and its long history of adhering to stated financial policies. Talisman's above-average business profile reflects its good internal growth prospects and competitive
