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PERU: S&P Affirms Petroperu’s Long-Term B Rating, Outlook To Stable

PERU
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  • S&P has moved the outlook on Petroperu’s long-term B credit rating to stable, from negative watch, as the company has addressed the events that placed them on negative watch, including the presentation of its 2023 audited financial statements.
    • S&P continues to view the likelihood of extraordinary government support as high.
    • The stable outlook "mainly captures the favourable impacts of the new decree. The outlook also incorporates the resumption of operations at the Talara refinery's flexi-coking unit”.
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  • S&P has moved the outlook on Petroperu’s long-term B credit rating to stable, from negative watch, as the company has addressed the events that placed them on negative watch, including the presentation of its 2023 audited financial statements.
    • S&P continues to view the likelihood of extraordinary government support as high.
    • The stable outlook "mainly captures the favourable impacts of the new decree. The outlook also incorporates the resumption of operations at the Talara refinery's flexi-coking unit”.