TEXT-S&P rates Marathon Oil new snr unsecured notes 'BBB'
Oct 24 - Standard & Poor's Ratings Services today assigned its 'BBB' rating to Marathon Oil Corp.'s senior unsecured note offering. The oil and gas exploration and production company intends to use proceeds from the offering to repay outstanding commercial paper balances and general corporate purposes. The ratings on Marathon Oil Corp. reflect Standard & Poor's assessment of the company's "satisfactory" business risk coupled with its "intermediate" financial risk. Given the company's currently anticipated levels of production, significant exposure to liquids production, and the current pricing environment, we expect that the company's financial performance and credit protection measures will likely remain at levels appropriate for the rating over the next 18 months. RELATED CRITERIA AND RESEARCH -- Key Credit Factors: Global Criteria For Rating The Oil And Gas Exploration And Production Industry, Jan. 20, 2012 RATING LIST Marathon Oil Corp. Corporate credit rating BBB/Stable New Rating Marathon Oil Corp. Senior unsecured notes BBB