Overview
- S&P Global Ratings removed Petroperú from its special review and affirmed the company's corporate rating at B-, a decision reported Friday that reduces immediate market uncertainty.
- The rating agency said the lift of the review rested on Petroperú’s ability to meet short-term debt and the May Decree of Urgency No. 003-2026, which created a state-backed special purpose vehicle with up to $2 billion of budgetary support.
- Petroperú said the S&P decision recognizes progress in stabilization and lets the firm focus on implementing its reorganization plan while it still faces unresolved structural liabilities.
- The SPV and sovereign guarantees are meant to secure refinery operations, supply working capital and protect the national fuel logistics chain from shortages during the restructuring process.
- Longer-term credit improvement remains uncertain because the rating stays non-investment-grade and depends on continued internal reforms, measurable balance-sheet repair and resolution of legacy liabilities, which could affect fuel prices and supply reliability for consumers.