Fitch affirms QGOG

Fitch Ratings said it affirmed the BBB- rating assigned to QGOG Atlantic/Alaskan Rigs Ltd.'s $700 million of senior secured notes with a stable outlook.

The affirmation reflects the continued positive environment for local players in the Brazilian oil and gas industry, the forward-looking expectation of uptime performance and operating expenses, the current liquidity protections, the continued deleveraging of the transaction and Queiroz Galvao Oleo e Gas' role as sponsor and operator of the Atlantic Star and Alaskan Star, the agency said.

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