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MEF does not rule out giving more credits and guarantees to Petroperú

MEF does not rule out giving more credits and guarantees to Petroperú

While the oil company is going through a restructuring process, the MEF guaranteed Fitch Ratings that it will continue to support it financially.

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The Minister of Economy and Finance, José Arista, assured that the Government of Dina Boluarte will continue to support Petroperú economically and financially with the aim of promoting its sustainability.

Through an important fact sent to Fitch Ratings, Arista stressed that support for Petroperú may materialize “shortly” through capital contributions, extensions of credit and guarantees and/or hybrid solutions, depending on the scenario.

It is worth adding that the state oil company is going through an internal restructuring process approved by its board of directors and is subject to supervision by the National Fund for Financing State Business Activity (Fonafe).

This restructuring will contribute to making State aid more effective for the recovery of Petroperú, which previously received capitalizations, direct and indirect financing lines—in this last point, via the Banco de la Nación for US$1.3 billion.

“We are sure that this communication will be useful for your internal processes and concerns regarding Petroperú,” Arista expressed to Fitch Ratings, a rating agency that lowered its grade on the public oil company to B+ (highly speculative).

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Trained at the Jaime Bausate y Meza University. In constant learning. Economics is the branch of journalism closest to the people and my duty is to be a bridge to information.

Source: Larepublica

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