S&P rates Petrol notes BBB-

Standard & Poor’s said it assigned its BBB- long–term and A-3 short-term corporate credit ratings to Petrol dd Ljubljana.

The outlook is negative.

At the same time, S&P assigned a BBB- issue rating to the €265 million notes issued by Petrol d.d. This reflects S&P’s view that the financial and trade obligations ranking ahead of the rated bond are below 20% of adjusted total assets.

S&P said the ratings on Petrol reflect the agency’s view of the group’s “fair” business risk profile and “significant” financial risk profile.

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