Valero Energy (VLO) Ratings Affirmed by Fitch (VLP)
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Fitch Affirms Valero's Ratings at 'BBB'; Outlook Stable
July 19, 2016 11:34 AM EDTCHICAGO--(BUSINESS WIRE)-- Fitch Ratings has affirmed Valero Energy Corporation's (Valero; NYSE: VLO) Issuer Default Rating (IDR) at 'BBB' with a Stable Outlook.
A total of $7.2 billion in debt, excluding Valero Energy Partners, LP's (VLP) non-recourse debt, is affected by today's rating action. A full list of rating actions follows at the end of this release.
Valero's ratings reflect the company's size, diversification, and asset quality; advantaged cost position including access to discounted North American crudes and inexpensive power and shale gas; low mandatory capex requirements and strong free cash flow; good liquidity; and track record... More
