S&P affirms GeoPark

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

The outlook is stable.

“The affirmation reflects our expectation that GPRK will continue to post strong credit metrics over the next two years, while it grows its production and reserves and maintains robust margins. This should all be backed by a favorable price scenario, disciplined capital expenditures (capex), significant internal cash flow generation, and a meaningful reserve base at its best-performing production sites,” S&P said in a news release.

“Our assessment also incorporates a manageable debt maturity schedule after the debt refinancing in the second half of 2017.”

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