The Santos (ASX:STO) share price dips on stable credit rating

The Santos Ltd (ASX: STO) share price slipped lower today despite the gas company providing an update on its credit rating. The Santos share price finished the day slightly in the red, down 1.3% to $7.23.

Let’s take a closer look at what Santos announced to the ASX market.

What did Santos announce?

The Santos share price ended the day mostly unscathed from the wider ASX market plunge that took hold today.

In its release, Santos advised that S&P Global Ratings (S&P) reaffirmed its BBB-credit rating with a stable outlook.

The report stated that S&P recognised Santos’ successful strategy in improving its portfolio resilience and diversifying its assets. This included the company determination in lowering unit production costs…