Fitch revises Pan American Energy view to positive

Fitch Ratings said it revised the outlook for Pan American Energy SL’s foreign currency issuer default rating to positive from stable. The outlook on the local currency rating remains stable.

“The positive outlook reflects Fitch's expectation that PAE's Mexican operations will commence in 2H2020, and the cash flows from Mexico and Bolivia in 2020 will adequately cover 12 months gross interest expense for the entire company,” said Fitch in a press release.

Fitch affirmed the company’s B+ foreign currency issuer rating, the BB local currency issuer rating and the BB-/RR3 rating on Pan American Energy LLC Sucursal Argentina’s senior unsecured notes.

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