Suncor Energy Inc. -- Moody's: Suncor well positioned to develop Fort Hills

Toronto, October 31, 2013 -- Moody's views Suncor Energy Inc.'s (Suncor) sanctioning of the Fort Hills oil sands mining project (40.8% working interest) as credit neutral as it will lead to significant longer term production and cash flow growth and Suncor has the ability to finance the sizeable capital costs largely form cash flow and cash on hand, offsetting the capital and execution risks that these developments entail. Suncor's strong financial position will enable it to absorb these risks, including potential cost overruns, without impairment to its Baa1 rating. For further information, please see www.moodys.com.

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