The Agency places the state company at BB+ with a negative outlook, which improves its assessment after publishing its audited financial statements.
Fitch Ratings reported this Thursday the 2nd that Petroperú has an issuer default rating in local and foreign currency at BB+.
In addition, it removed negative rating watch, putting its outlook on the state oil company at negative only.
According to the foreign agency, this was removed because Petroperú published its audited financial statements by the end of 2021 and obtained the consent of the bondholders to avoid an event of default, since its previous efforts did not provide such data.
However, he pointed out that Despite the recent actions of the Government to keep Petroperú afloat, in its history there are “irregularities and measures of last resort were taken to guarantee energy security nationally and not to deal with the company’s balance sheet problems in the long term.
Source: Larepublica
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