Fitch rates SierraCol Energy notes B+

Fitch Ratings said it assigned first-time long-term foreign and local currency issuer default ratings of B+ to SierraCol Energy Ltd. The outlook is stable.

Fitch also assigned a B+/RR4 rating to the proposed $500 million senior notes due 2028 that will be issued by SierraCol Energy Andina LLC, which will be fully guaranteed by SierraCol Energy Ltd.

“Despite strong operating metrics, the ratings remain constrained by the company's relatively small size and the low diversification of its oil fields,” Fitch said in a news release.

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