ConocoPhillips: Rating Report
DBRS Limited (DBRS Morningstar) confirmed ConocoPhillips' (Conoco or the Company) Issuer Rating at “A” with a Stable trend. DBRS Morningstar also removed the rating from Under Review with Developing Implications, where it was placed on October 20, 2020, following the announcement of a definitive agreement to acquire Concho Resources (Concho) in an all-stock transaction.ConocoPhillips is an exploration and production company engaged in exploring for, producing, transporting and marketing crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids. The company's segments include: Alaska, which operates in Alaska; Lower 48, which operates in the United States and the Gulf of Mexico; Canada, which operates in Alberta and British Columbia; Europe and North Africa, which consists of operations and exploration activities in Norway, the United Kingdom and Libya; Asia Pacific and Middle East, which operates in China, Indonesia, Malaysia, Australia, Qatar, and Timor-Leste; and Other International, which operates in Colombia, Chile and Argentina.
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