...March 11, 2026 MEXICO CITY (S&P Global Ratings) March 11, 2026--S&P Global Ratings today lowered its issue rating on Gran Tierra Energy Inc.'s notes due 2029 to 'B-' from 'B'. This follows the end of the company's exchange offer transaction, which also involved the recently issued $503.6 million senior amortizing secured notes due 2031 (to refinance almost all of the 2029 notes). Also today, we affirmed our 'B' issue-level rating on those notes due 2031 and affirmed our 'B-' issue-level rating on the company's senior unsecured notes due 2027. The refinancing of most of the 2029 notes had an acceptance rate of nearly 90%, leaving an outstanding balance of $87.6 million of the 2029 notes. The outstanding 2029 notes--which had been secured--became unsecured after the closing of the exchange transaction, because it released the collateral package under the notes. We lowered our issue-level rating on the 2029 notes given that the recently issued $503.6 million senior secured notes due 2031 exceed...
