Gran Tierra Energy Inc. (GTE) announced an agreement to sell its Colombian and Ecuadorian oil businesses to Établissements Maurel&Prom (M&P). As part of the transaction, GTE's $494 million senior secured notes due 2031 and $88 million senior unsecured notes due 2029 will be transferred to M&P. The proposed transaction would sharply reduce GTE's business, in terms of size and diversification, and would lower consolidated revenue to roughly $100 million from nearly $600 million. Therefore, on Aug. 6, 2026, S&P Global Ratings placed its 'B' issuer credit and issue-level ratings on GTE and on GTE's 2031 senior secured notes, along with its 'B-' issue-level ratings on GTE's 2029 senior unsecured notes and 2027 senior unsecured notes, on CreditWatch developing.
