Fitch: Valero Energy up to positive

Fitch Ratings said it revised the outlook on the debt ratings of Valero Energy Corp. to positive.

Fitch rates Valero's senior unsecured debt and unsecured credit facilities BBB- and the company's mandatory convertible preferred securities BB+.

Fitch said the positive outlook recognizes Valero's strong performance over the past several quarters with expectations for continued strong results.

The change in outlook also reflects Fitch's expectation that management is committed to continuing to finance acquisitions conservatively while pursuing further debt reduction.

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