November 6, 2019 / 4:20 PM / 10 days ago

Phillips 66 completely transparent in project financing: CEO

FILE PHOTO: The Phillips 66 gas station in Superior, Colorado, U.S., July 27, 2017. REUTERS/Rick Wilking

HOUSTON (Reuters) - Phillips 66 Chief Executive Greg Garland said on Thursday the company is completely transparent in the financing of pipelines and other projects the independent U.S. refiner and petrochemical producer has undertaken in the past few years.

Responding to a Wall Street analyst question during an Investor Day presentation about whether the company uses off-the-books financing, Garland said its discloses its financing arrangements to credit rating agencies.

“We’re completely transparent,” Garland said.

Reporting by Erwin Seba

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