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Fitch rates Hunt Oil BBB
Fitch Ratings said it published long-term foreign- and local-currency issuer default ratings of BBB on Hunt Oil Co. of Peru with a stable outlook.
The ratings reflect the company's solid capital structure due to its moderate leverage and sound credit metrics, Fitch explained.
The ratings also consider the company's manageable capital expenditure investment plan, which is required to maintain the reserve life of blocks 88 and 56 due to the nature of the fields and amounts invested in the past, the agency said.
The ample reserve life of Camisea's blocks 88 and 56, Fitch said, and steady production levels at a relatively low production cost compared with its Latin American peers, support the company's strong cash flow generation.
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