Moody's and Fitch complete periodic reviews of Wintershall Dea and maintain current ratings
Wintershall Dea, Europe’s leading independent gas and oil company announces that both Moody’s Investors Service and Fitch Ratings have recently completed their periodic reviews of the company’s respective credit ratings.
Fitch has reaffirmed the Company’s BBB rating with a stable outlook, whilst Moody’s maintained the Company’s current Baa2 rating with a negative outlook.
Paul Smith, Wintershall Dea CFO, said: “We are pleased to maintain our current Baa2/BBB ratings in these challenging times. This reflects the resilience of our portfolio to the current volatile backdrop and confirms that the decisive actions that we have taken in response to the commodity price drop to protect our financial profile were appropriate and sets the company on an even stronger footing going forward.”
About Wintershall Dea
Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.
Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,800 people worldwide from over 60 nations.