Fitch rates Lundin Energy BBB-

Fitch Ratings said it published Lundin Energy AB a first-time BBB- long-term issuer default rating.

“The rating reflects our expectation that Lundin will see production volumes sustained above 200 thousand barrels of oil equivalent per day (kboepd) over 2021-2025. This, alongside more favorable prices, supports strong funds from operations (FFO) generation and FFO net leverage on average at below 2x over the same period. These factors drive an operating and financial profile that is in line with that of peers rated in the BBB category,” the agency said in a press release.

The outlook is stable.

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