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10 Aug 2011 07:00
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10 August 2011
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Andes Energia plc
("Andes" or the "Company")
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Fitch Rating
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The Board of Andes, the Latin American energy group, is pleased to announce that Fitch Inc. ("Fitch") has granted Andes's shares a rating of Level 2.
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The rating is designed to measure overall investment risk taking into account different variables including but not limited to a company's size, history, price volatility, financial results, business risk, investment plans and liquidity of the securities market.
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A full copy of Fitch's report will be available at http://www.andesenergiaplc.com.ar
Luis Alvarez Poli, Chief Executive Officer of Andes, commented, "This is excellent news which we believe will create additional demand and liquidity as this will now provide the opportunity for Argentine institutional investors, investment funds, mutual funds, insurance companies and even local banks to trade our shares on the Buenos Aires Stock Exchange."
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For further information please contact:
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Andes Energia plc | Luis Alvarez Poli, CEO Nigel Duxbury, FD Β | T: +442074955326 |
Arbuthnot Securities | Antonio Bossi Ed Groome Β | T: +442070122000 |
Buchanan Β Β | Tim Thompson Ben Romney | T: +442074665000 |
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Note to Editors:
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Andes is a Latin American energy group, with oil and gas, electricity distribution and hydro-electric power interests in Argentina. The Company's focus is on the Argentinean energy sector, which it believes offers premium assets at undervalued prices.
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Fitch, an international ratings agency, has developed a methodology for rating stock risk and defines six categories of risk from Level 1 (least risk) to Level 5 (highest risk) and Level 6 attributable to those shares where there is insufficient information to quantify the risk.
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