OREANDA-NEWS. S&P Global Ratings today affirmed its 'B+' long-term corporate credit rating on Bayerngas Norge A. S., Norway-based oil and gas exploration and production company. We subsequently withdrew our rating at the company's request. At the time of withdrawal, the outlook was stable.

The affirmation reflected our view that Bayerngas Norge would continue to benefit from long-term financial support from its parent and main shareholder, Stadtwerke Munchen Gasbeteiligungs GmbH & Co. KG SWM, enabling the company to meet its liquidity needs over the coming 12 months despite the challenging market conditions.