...- Colombia-based oil and gas producer Gran Tierra Energy Inc. (GTE) is resuming its refinancing strategy on its 2025 and 2027 notes ahead of maturity. As of June 30, 2023, the company has repaid in full its revolving credit facility (RCF) and about $28 million of its 2025 notes, benefiting from rising crude oil prices and consistent strong margins. - On Sept. 19, 2023, S&P Global Ratings affirmed its 'B' issuer credit rating on GTE and assigned its 'B' issue-level rating to its proposed amortizing senior secured bond due 2029. - We also placed our 'B' issue-level rating on the company's senior unsecured debt on CreditWatch with negative implications given the higher risk of subordination in the next 90 days. - The positive outlook on GTE continues to reflect that we expect its production to increase towards 35,000 barrels of oil equivalent per day (boepd) in the next 12 to 18 months, while it benefits from rising crude oil prices and keeps leverage below 2.0x....
