S&P: Pacific Rubiales Energy unchanged

Standard & Poor's said its BB+ issue rating on Pacific Rubiales Energy Corp.'s senior unsecured notes remains unchanged following the announced $300 million add-on to the 2021 notes. This add-on increased the notes' outstanding balance to $600 million.

Proceeds will be used to fund Petrominerales' acquisition.

The BB+ rating on Pacific Rubiales is derived from S&P's anchor of bb+, based on S&P's "fair" business risk and "intermediate" financial risk profile assessments for the company, and no rating impact derived from the rating modifiers.

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