Fitch affirms Valero

Fitch Ratings said it has affirmed the following ratings of Valero Energy Corp.: issuer default rating at BBB; unsecured credit facility at BBB; senior unsecured debt at BBB; and Premcor Refining Group unsecured notes BBB.

The outlook is stable.

The agency said that Valero's ratings are supported by the size, scale, and the geographic diversity of its refineries, its leverage to heavy and sour crude oil economics, its still-significant capex flexibility in the current downturn, and reasonable financial leverage.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.