Credit ratings
Shell targets strong investment grade ratings through the cycle. We believe that a strong balance sheet is important to enable delivery of value at cyclical low points and at times of heightened volatility, which could impact commercial advantage as well as costs of and access to debt.
Debt information
Notes and other debt securities
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Debt of Shell finance US Inc
| S&P | Moody's | Fitch | |
| Long-term | A+ | Aa2 | AA- |
| Outlook | Stable | Stable | Stable |
Shell plc
| S&P | Moody's | Fitch | |
| Short-term | A-1 | P-1 | F1+ |
| Long-term | A+ | Aa2 | AA- |
| Outlook | Stable | Stable | Stable |
Debt of Shell International Finance BV
| S&P | Moody's | Fitch | |
| Short-term | A-1 | P-1 | F1+ |
| Long-term | A+ | Aa2 | AA- |
| Outlook | Stable | Stable | Stable |
BG Energy Holdings Ltd
| S&P | |
| Long-term | A+ |
| Outlook | Stable |
Debt of BG Energy Capital plc
| S&P | Moody's | Fitch | |
| Long-term | A+ | Aa2 | AA- |
| Outlook | Stable | Stable | Stable |
| **The BG Energy Capital plc debt that is guaranteed by Shell plc has an S&P, Moody’s and Fitch rating and the BG Energy Capital plc debt guaranteed by BG Energy Holdings Ltd has an S&P and Fitch rating. |
Key contacts at the respective agencies are:
Key contacts at the respective agencies are:
S&P Global Ratings
Edouard Okasmaa
edouard.okasmaa@spglobal.com
Moody's Investors Service Ltd.
Roberto Pozzi
roberto.pozzi@moodys.com
Fitch Ratings
Oliver Schuh
oliver.schuh@fitchratings.com