Fitch rates Pampa Energia notes B+

Fitch Ratings said it assigned long-term foreign and local currency issuer default ratings of B and BB-, respectively, to Pampa Energia SA.

The outlook is stable.

The agency simultaneously assigned an expected rating of B+(EXP)/RR3 to Pampa's proposed senior unsecured notes.

The company expects to use the proceeds to refinance existing debt at its subsidiaries, funding capital expenditures and for general corporate purposes.

Fitch said the ratings consider Pampa's status as Argentina's largest integrated energy company, with significant markets shares across all its business lines. In particular, the ratings reflect the company's substantial operations in exploration & production, as well as the favorable domestic price environment for its natural gas business in Argentina.

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