OTHER NEWS - Jan. 4, 1992
From Times Staff and Wire Reports
Arco Debt Under Review: Moody’s Investors Service Inc. said it has placed under review for potential downgrade the single-A1 rating for long-term debt of Atlantic Richfield Co. and its guaranteed subsidiaries. The rating agency said about $5.6 billion in long-term debt is affected. Meanwhile, Moody’s said the ratings for commercial paper issued by Arco, Arco Coal Australia Inc., Kuparuk Transportation Capital Corp. and U.K. Funding Inc. are not under review. Moody’s quoted Arco as saying that its “strong cash flow, earnings capacity and cash potential deteriorated in 1991, primarily as a result of lower crude prices and severe margin pressures in refining and marketing.”
