S&P upgrades GeoPark, notes

S&P said it raised its long-term corporate credit rating on GeoPark Ltd. to B+ from B and raised its issue-level rating on the company's $425 million senior secured notes due 2024 to B+ from B.

The outlook is stable.

The agency said the upgrade reflects an expectation that the company will post stronger credit metrics over the next two years, mainly driven by better oil prices, a solid operating performance and successful drilling activities, with sound growth prospects in terms of production and reserves.

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