CITGO Refinancing Raises Credit Ratings and Positions Company for Further Growth
Following the successful refinancing, Fitch Ratings has upgraded its ratings on CITGO Holding debt and elevated CITGO Holding and CITGO Petroleum ratings outlook from Rating Watch Negative and assigned them a Stable Outlook. Moody's Ratings has upgraded the corporate family ratings and the debt ratings of both CITGO Holding and CITGO Petroleum, and upgraded the ratings outlook of both from negative to stable. " As a company, CITGO is focused on improvements that ensure its facilities operate dependably across the network. Last year, CITGO achieved a solid Refinery Utilization Index, which was above the industry average.