Imperial Oil Limited: Rating Report
On June 17, 2020, DBRS Limited (DBRS Morningstar) downgraded the Issuer Rating and Unsecured Debentures rating of Imperial Oil Limited (IMO or the Company) to AA (low) from AA, and confirmed its Commercial Paper (CP) rating at R-1 (middle). All trends are Negative. DBRS Morningstar notes that the Company's CP ratings are mapped from the long-term rating scale and the rating continues to map to R-1 (middle) despite the one-notch downgrade to its Issuer Rating.Imperial Oil is an integrated oil company. Co. is active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil and natural gas. In Canada, Co. is a producer of crude oil, natural gas and petroleum refiner and a marketer of petroleum products. Co. is also a producer of petrochemicals. As of Dec 31 2017, Co. had 1.57 billion barrels of oil-equivalent basis of net proved reserves, which consisted of 44.0 million barrels of liquids, 641.00 billion cubic feet of natural gas, 473.0 million barrels of synthetic oil, and 946.0 million barrels of bitumen.
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