Fitch rates 3R notes B+

Fitch Ratings said it assigned B+/RR4 ratings to 3R Lux Sarl's planned notes for up to $500 million due 2031. The notes will be senior secured and guaranteed by 3R Petroleum Oleo e Gas SA (3R) and some of its subsidiaries.

The agency also published 3R's B+ long-term foreign-currency and local-currency issuer default ratings. 3R's long-term national scale rating is A(bra).

The proceeds will mainly be used to fully repay 3R's $500 million term loan facility.

The outlook is stable.

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