Fitch assigns Peru LNG negative view

Fitch Ratings said it removed the rating watch negative and assigned a negative outlook to Peru LNG SRL. The agency also affirmed the company’s long-term foreign-and local-currency issuer default ratings at BB-. The rating also includes Peru LNG’s $940 million senior unsecured notes due 2030.

The outlook and the ratings reflect weaker operational performance given the weakening international prices for natural gas and the resulting higher leverage due to decreasing EBITDA generation, Fitch said.

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