S&P affirms Oleoducto de Crudos Pesados

Standard & Poor's said it affirmed its BBB rating on the $900 million senior bank loan due 2016 related to Oleoducto de Crudos Pesados.

The outlook is stable.

"The BBB rating on the $900 million senior bank loan due 2016 of oil pipeline project Oleoducto de Crudos Pesados is based on agreements with several, but not joint, performance guarantors," said credit analyst Monica Ponce.

S&P said it believes that its speculative-grade sovereign credit rating on the Republic of Ecuador (B-/stable/C) does not raise the risk to Oleoducto de Crudos Pesados' creditors.

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