TGS ASA rated ‘BB-‘ from S&P
October 23 2024 - 8:39AM
UK Regulatory
TGS ASA rated ‘BB-‘ from S&P
OSLO, Norway (23 October 2024) – TGS ASA, a
leading provider of energy data and intelligence is assigned a
‘BB-‘ rating from S&P with stable outlook. S&P’s rating on
TGS ASA reflects the company’s conservative financial policies and
relatively strong credit measures after the transformative
acquisition of PGS.
S&P is raising their issuer credit rating on TGS Newco
(formerly PGS ASA) and its USD 450 million senior secured notes by
three and two notches respectively, from ‘B-‘ to ‘BB-‘ and from ‘B’
to ‘BB-‘ with stable outlook.
The upgrade by S&P follows the upgrade by Moody’s from a B2
to a Ba3 rating as announced on 26 September 2024.
S&P’s press release announcing the rating action is
available on their home page https://www.spglobal.com/.
For more information, visit TGS.com or contact:
Bård Stenberg
IR & Communication
Mobile: +47 992 45 235
investor@tgs.com
About TGS
TGS provides advanced data and intelligence to companies active in
the energy sector. With leading-edge technology and solutions
spanning the entire energy value chain, TGS offers a comprehensive
range of insights to help clients make better decisions. Our broad
range of products and advanced data technologies, coupled with a
global, extensive and diverse energy data library, make TGS a
trusted partner in supporting the exploration and production of
energy resources worldwide. For further information, please visit
www.tgs.com (https://www.tgs.com/).
Forward Looking Statement
All statements in this press release other than statements of
historical fact are forward-looking statements, which are subject
to a number of risks, uncertainties and assumptions that are
difficult to predict and are based upon assumptions as to future
events that may not prove accurate. These factors include volatile
market conditions, investment opportunities in new and existing
markets, demand for licensing of data within the energy industry,
operational challenges, and reliance on a cyclical industry and
principal customers. Actual results may differ materially from
those expected or projected in the forward-looking statements. TGS
undertakes no responsibility or obligation to update or alter
forward-looking statements for any reason.
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