Phillips 66: Update to credit analysis - midstream and chemicals support earnings growth
CORPORATES CREDIT OPINION 23 October 2017 Update RATINGS Phillips 66 Domicile United States Long Term Rating A3 Type LT Issuer Rating - Dom Curr Outlook Negative Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts James Wilkins +1.212.553.0528Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company's segments include: Midstream, which provides crude oil and refined petroleum product transportation, terminaling and processing services, as well as natural gas and natural gas liquids transportation, storage, processing and marketing services; Chemicals, which manufactures and markets petrochemicals and plastics on a worldwide basis; Refining, which refines crude oil and other feedstocks into petroleum products; and Marketing and Specialties, which purchases for resale and markets refined petroleum products, mainly in the United States and Europe.
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