CALGARY, Alberta Oct 10 Ratings agency Moody's
revised Talisman Energy Inc's rating outlook to
"negative" from "stable" on Thursday, citing uncertainty over
the struggling Canadian oil producer's plans to slim down its
portfolio of oil and gas assets.
"Talisman's negative rating outlook reflects the uncertain
outcome of the portfolio transformation taking place under the
company's strategic re-positioning," Terry Marshall, Moody's
senior vice president, said in a statement.
"The company's capital productivity is weak and it is
uncertain when a clear, profitable and sustainable organic
growth profile will be evident."
The negative rating outlook comes just days after activist
investor Carl Icahn disclosed a 6 percent stake in the company
and said he intended to talk with Talisman's management to
discuss strategic alternatives, including asset sales or
The announcement from Moody's came after trading closed on
the Toronto Stock Exchange. Talisman shares closed up 0.24
percent at C$12.73.