Refinery firm gets good rating despite risks

The Fitch rating agency has reaffirmed a BB+ rating for the national oil refinery monopoly, the same rating that the country as a whole had.

The agency did say that the refinery firm, Refinadora Costarricense de Petróleo S.A., is exposed to risk factors including political interference and the lack of clarity in the tariff scheme.

The company does not set the prices it charges for petroleum products. That is done by the national price regulating agency, the Autoridad Regulador de Servicios Públicos, a supposedly independent agency.

The rating came via the Fitch offices for Latin America in the Dominican Republic.

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