Fitch warns on Frontera’s consent solicitation

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Fitch warns on Frontera’s consent solicitation

Oliver West
November 14, 2018 02:30 AM
Puerto Gaitan, Pacific Rubiales
In this Feb. 13, 2015 photo, a man rides along a round about with a concrete arch at the entrance of Puerto Gaitan, Colombia. Soaring oil prices the past decade transformed this rural backwater into Colombia’s richest city as nearby fields pumped black gold, drawing new businesses, international pop stars and vanity art projects such as the biblical-themed arch that towers over these sweltering grasslands. Now, crashing crude prices have the 45,000 residents of Puerto Gaitan bracing for a big fall. (AP Photo/Fernando Vergara) | Fernando Vergara/AP/Press Association Images

Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.

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Oliver West
US Bureau Chief - Latin America Editor
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