Shell targets AA credit metrics 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.

Royal Dutch Shell plc

S&P
Moody's
Short-term
A-1
P-1
Long-term
A+
Aa2
Outlook
Stable
Stable

Debt of Shell International Finance BV

S&P
Moody's
Short-term
A-1
P-1
Long-term
A+
Aa2
Outlook
Stable
Stable

BG Energy Holdings Ltd

S&P
Long-term A+
Outlook Stable

 

Debt of BG Energy Capital plc

S&P
Long-term A+
Outlook

Stable

Key contacts at the respective agencies are:

Moody's Investors Service Ltd.
Sven Reinke
Phone: +44 20 7772 1057

S&P Global Ratings
Simon Redmond
Phone: +44 20 7176 3683