Singapore, 5 November 2024: Puma Energy, a leading global downstream energy business, announces it has been assigned a long-term issuer credit rating of ‘BB’ with “Stable” outlook from S&P Global Ratings (“S&P”). Our outstanding senior unsecured notes have also received a BB issue rating.
S&P cited Puma’s market leadership and diversification, its presence in regulated markets, its successful deleveraging, along with positive free cash flow generation and prudent financial policy as the overall rationale for its rating opinion.
Puma Energy Chief Financial Officer Carlos Pons said: “We are pleased to receive corporate and note ratings of BB with Stable Outlook from S&P. This rating confirms our successful efforts in turning around and strengthening the company’s balance sheet by reducing debt and improving our debt maturity profile. We are also pleased to see continued recognition of our strong operational performance, cash flow generation and liquidity, which we delivered through our strategy of focusing on our core downstream markets and segments.”
S&P’s stable outlook represents the expectation that Puma Energy will maintain steady performance while operating within the parameters set by its financial policy.
S&P offers a fresh perspective on Puma Energy, as the company concludes its turn around and is now embarking on a phase of prudent growth.
Puma Energy has decided to maintain two ratings from global leading rating agencies, which has resulted in a rotation amongst our rating providers. As of now, Puma Energy is soliciting ratings solely from S&P and Fitch.
About Puma Energy
Puma Energy is a leading global downstream energy business, safely providing energy in more than 35 countries, primarily across central America and Sub-Saharan-Africa. Our downstream business segments include fuels, aviation, lubricants, LPG and bitumen. Our purpose is energising communities to help drive growth and prosperity by sustainably serving our customers’ needs in high potential countries around the world.
For further information visit: www.pumaenergy.com
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Forward-looking statements
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