S&P: three oil companies on watch

S&P said it placed its ratings for Compania General de Combustibles, Petroquimica Comodoro Rivadavia and Geopark on CreditWatch with negative implications citing lower oil prices.

“We believe Geopark – which is the most exposed to international oil prices – will have a weaker performance, while CGC and PCR will face meaningful challenges to refinance their short – and medium-term debt but may benefit from oil price decoupling in Argentina,” the agency said.

S&P affirmed YPF SA’s ratings. The outlook for the company remains negative.

The agency expects to resolve the placements in the next 90 days.

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