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Published on 6/8/2015 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

Fitch: QGOG view negative

Fitch Ratings said it affirmed the foreign and local currency issuer default ratings of QGOG Constellation SA at BB- as well as the BB- long term rating on the company's $700 million of senior unsecured notes due 2019.

The rating was removed from rating watch negative and assigned a negative outlook.

Fitch said the negative outlook reflects the negative impact a prolonged ban could have for the company as it could prevent QGOG from renewing its contracts with Petrobras. This risk is heightened by the medium-term need to renew some of the company's contracts as they expire.


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