Fitch rates Pearl Petroleum notes B-

Fitch Ratings said it assigned an expected B- RR4/50% rating. to Pearl Petroleum Co. Ltd.’s proposed notes.

The agency also assigned a B- rating to Pearl.

“Pearl’s rating is supported by stable operations amid the political and security threats present in the Kurdistan Region of Iraq (KRI) since the company’s inception in 2009, the company’s importance to the region’s power needs and satisfactory liquidity backed by cash held mainly in UAE banks,” said Fitch in a press release.

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