...February 1, 2024 MEXICO CITY (S&P Global Ratings) Feb. 1, 2024--S&P Global Ratings today said that it views Gran Tierra Energy Inc.'s (GTE) proposed add-on to its 9.5% secured notes of $487.6 million amortizing from 2026 through 2029 as neutral for the company's leverage. The debt increase will remain commensurate with the company's financial profile and in line with our rating on GTE (B/Stable/--). In addition, the 'B' issue-level rating on the secured notes, as well as the 'B-' issue-level rating on the company's senior unsecured notes due 2025 and 2027, remain unchanged. The Colombian oil and gas producer intends to use the net proceeds from the add-on to refinance some debt on its balance sheet. It will also use proceeds for general corporate purposes, which may include additional capital to appraise and develop exploration sites, to repay other debt, and/or for working capital. Therefore, we maintain our expectation that GTE's adjusted debt to EBITDA will remain slightly below 2.0x...
