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Article: Duff & Phelps extends its Duff 1 commercial paper rating to the new Euro-Paper Program of Tenneco Inc.
- Article from:
- PR Newswire
- Article date:
- March 13, 1986
CopyrightCOPYRIGHT 1986 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, March 13 /PRNewswire/ -- Duff & Phelps Inc., the national credit rating agency, today extended its Duff 1 commercial paper rating to the new Euro-Paper Program of Tenneco Inc.
The program allows up to $200 million of borrowings, which are 100 percent backed by the same revolvers and bank lines which back Tenneco Inc.'s domestic commercial paper program.
"Due to Tenneco's diversification into non-energy sectors, the company is among the least vulnerable of the major oil companies to crude oil price declines," a D&P spokesman said.
"In addition, Tenneco's large, ...