MARKET TALK: Gimme Credit Cuts Anadarko To 'Deteriorating'

1815 GMT [Dow Jones] Independent corporate bond researcher Gimme Credit has downgraded its credit score on Anadarko Petroleum Corp. (APC) to 'deteriorating' from 'stable'. Phil Adams, senior investment grade analyst at the firm, wrote in a note, "Although we think APC has a strong case in its dispute with BP over the Macondo oil well disaster in the Gulf of Mexico, we suspect the resolution of the conflict will involve a material (finite) contribution by APC to clean-up and/or compensation efforts, as a matter of legal and political expedience." But Adams said APC is generally well-positioned to meet its obligations. (katy.burne@dowjones.com) Contact us in New York. Darlene Ross, 212 416-2166; darlene.ross@dowjones.com (END) Dow Jones Newswires June 22, 2010 14:15 ET (18:15 GMT)