Barclays Says ‘Very Strong’ PDVSA Earnings Support Credit
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“Very strong” earnings for state-oil company Petroleos de Venezuela SA, reported earlier this week by Fitch Ratings, are good for the South American company’s credit, Barclays Capital said today in a note to clients.
Fitch Ratings said Nov. 15 in a statement that PDVSA, as the Caracas-based company is called, reported earnings before interest, taxes, depreciation and amortization, known as Ebitda, of $32.1 billion for the 12-month period that ended June 30.