BB Energy’s Global Shake-Up and South Sudan Court Clash as Fitch Affirms Globo at ‘BB+’
Fitch Ratings affirmed Globo’s long-term credit ratings at ‘BB+’ with a Stable Outlook, citing a strong net cash position and leading market share in Brazil. BB Energy is cutting jobs and restructuring its U.S. operations after losses in oil trading, while shifting focus to renewables. A London court blocked the sale of a South Sudanese crude cargo as BB Energy seeks repayment of a $100 million loan.