By Houston Business Journal

Following news that Anadarko Petroleum Corp. (NYSE: APC) has reached a settlement with BP Plc (NYSE: BP) related to last yearâ¿¿s Deepwater Horizon explosion, Moodyâ¿¿s Investors Service has said the companyâ¿¿s debt rating will be reviewed for an upgrade.

The $4 billion settlement amount is significantly less than the financial service firmâ¿¿s expectation of $8 billion, which had been incorporated into the June 2010 decision to downgrade APC to a Ba1 rating, Moodyâ¿¿s said.

The new review will focus on the companyâ¿¿s residual liability exposure from the Deepwater Horizon event and the potential for APC to improve its fundamental credit profile in 2012.

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