Summary: CNOOC Ltd. - S&P Global Ratings’ Credit Research

Summary: CNOOC Ltd.

Summary: CNOOC Ltd. - S&P Global Ratings’ Credit Research
Summary: CNOOC Ltd.
Published Jun 28, 2010
1434 words — Published Jun 28, 2010
Price US$ 225.00  |  Buy this Report Now

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Abstract:

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 (A+/Stable/A-1+) will provide sufficient and timely extraordinary support to the company in the event of financial distress. The long-term corporate credit rating factors in one notch of government support. We assess CNOOC Ltd.'s stand-alone credit profile at 'A', reflecting the company's strong business risk profile and modest financial risk profile. CNOOC Ltd. is the core operating subsidiary of China National Offshore Oil Corp. (CNOOC; A+/Stable/--), which is one of three government-owned oil companies in China. In accordance with our criteria for government-related entities, our view of an

  
Brief Excerpt:

RESEARCH Summary: CNOOC Ltd. Publication date: 28-Jun-2010 Primary Credit Analyst: Lawrence Lu, CFA, Hong Kong 852-2533-3517; law_lu@standardandpoors.com Secondary Credit Analyst: Ryan Tsang, CFA, Hong Kong (852) 2533-3532; ryan_tsang@standardandpoors.c...

  
Report Type:

Summary

Ticker
883@HK
Issuer
CNOOC Ltd.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers, Structured Finance
Country
Hong Kong
Region
Latin America
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: CNOOC Ltd." Jun 28, 2010. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-CNOOC-Ltd-806315>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: CNOOC Ltd. Jun 28, 2010. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-CNOOC-Ltd-806315>
  
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