Chevron Corporation: Rating Report
On April 6, 2023, DBRS Limited (DBRS Morningstar) confirmed Chevron Corporation's (Chevron or the Company) Issuer Rating at AA with a Stable trend. The rating is underpinned by the Company's substantial size, integrated and geographically diversified operations and large portfolio of projects to replace and grow production. The rating also takes into account Chevron's planned cash returns to shareholders and exposure to operations in more politically sensitive geographic regions. The Stable trend reflects DBRS Morningstar's expectation that Chevron's key credit metrics will continue to support the rating under the latest DBRS Morningstar base-case commodity price assumptions.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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