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| Brief Excerpt: | ...Weaker pricing and volumes due to the coronavirus outbreak have cut commodity producers' cash flow and revealed the vulnerabilities of producers with tighter liquidity and lower financial flexibility. Simultaneously, the volatility of capital markets limits access to external sources of liquidity, especially for high- yield (HY) issuers. This may lead to increasing pressure on ratings. Fitch Ratings has examined its EMEA HY portfolio of 44 rated natural resources and commodities (oil and gas, metals and mining, and chemicals) companies, focusing on their projected liquidity status in 2020 and 2021. Up to a third of these companies have weak or tight liquidity ratios. However, Fitch has considered mitigating circumstances and identified only five issuers that face increased refinancing risk: JSC Investgeoservis (B-/Stable), PGS ASA (B/Stable), PJSC RussNeft (CCC+), Groupe Ecore Holding S.A.S. (B-/Rating Watch Negative) and First Quantum Minerals Ltd. (B/Stable). Those with lower liquidity... |
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| Report Type: | |
| Company(ies) | TGS NEWCO AS
, Turkiye Petrol Rafinerileri A.S.
, KazMunayGas International NV
, National Joint Stock Company Naftogaz of Ukraine
, ArcelorMittal SA
, Petkim Petrokimya Holding A.S.
, ORGANICHESKY SINTEZ PJSC
, INEOS Group Holdings S.A.
, Metinvest B.V.
, Acron PJSC
, State Oil Company of Azerabajian Republic
, PJSC Polyus
, Ferrexpo PLC
, Oao Holding Company Metalloinvest
, Eurasia Drilling Company LLC
, First Quantum Minerals Ltd.
, Uralkali PJSC
, United Company RUSAL, international public joint-stock company
, Geopromining Investments (CYP) Limited
, EVRAZ PLC |
| Issuer | Vivo Energy plc |
| Format: | | PDF |  |
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