Fitch ups Repsol short-term ratings

Fitch Ratings said it affirmed Repsol, SA's long-term issuer default rating at BBB with positive outlook.

The short-term issuer default ratings for Repsol and Repsol Oil and Gas Canada Inc. as well as the short-term senior unsecured rating for Repsol International Finance have been upgraded to F2 from F3 to reflect Fitch's revised criteria for assigning short-term ratings, the agency said.

The short-term issuer default ratings and short-term senior unsecured rating were removed from under criteria observation, on which they were placed in May 2019.

“Repsol's ratings are supported by a robust business profile with large-scale upstream and downstream segments and geographically diversified operations,” the agency said in a news release.

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