S&P changes GeoPark outlook to positive

S&P said it revised its outlook on GeoPark Ltd. to positive from stable and affirmed its long-term B+ issuer credit and issue-level ratings on the company.

“The positive outlook reflects the GPRK’s moderate size and scale increase after the recent debt-financed acquisition of Amerisur, which we expect to increase GPRK’s gross leverage only to 2.0x in the next 12 months. In this sense, we believe there is at least one-in-three chances of an upgrade to BB- in the next 12 months after the transaction is completed, the long-term financing obtained, and operations stabilized,” said S&P in a press release.

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