PETROPERU improves risk classification

The Committee of the Risk Classification of Apoyo & Asociados, firm associated with the prestigious agency Fitch Ratings, had assigned the AA+(Peru) category to the long term debts of PETROPERU. This category is part of a high payment capacity of the companies’ debts reflecting a very low credit risk.

The decision is based on, firstly, the fact that PETROPERU in an important asset in the country, representing the 48% of crude oil refining capacity and a core source of energy provision. Moreover, PETROPERU has the support of the Peruvian government as its only shareholder and has a sovereign guarantee of about 1,000 millions dollars.

PETROPERU has been able to maintain certain stability in their margins, in which it is reflected in a positive EBITDA (Earnings before interest, taxes, depreciation, and amortization) even in harsh situations due to the volatility of the crude oil and the oil that they commercialise.

Finally, it is important to point out the potential increase of operations held by the New Talara Refinery in which is seen as a rise of their refining margins and a better resilience upon variations in the raw material and the products costs that they commercialise.