DBRS Rates Anadarko Petroleum Corporation’s New Issues at BBB with Stable Trends

DBRS has today assigned a rating of BBB with a Stable trend to the $275 million of 5.75%, $300 million of 6.95%, and $325 million of 7.95% unsecured senior notes (the Notes), maturing on June 15, 2014, June 15, 2019, and June 15, 2039, respectively, of Anadarko Petroleum Corporation (the Company). The Notes were issued under the Preliminary Prospectus Supplement dated June 9, 2009, and are expected to settle on June 12, 2009.

The Notes will rank equally with the Company’s existing and future unsecured senior debt. The net proceeds will primarily be used to fund a portion of the redemption of the approximately $913 million of outstanding floating-rate notes due September 15, 2009, and the remainder for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Oil and Gas Companies, which can be found on the DBRS website under Methodologies.

This is a Corporate rating.