Repsol Reports Strong Results After Forgettable Year

摘要

Spanish integrated major Repsol beat market expectations and boosted market confidence as it released full-year and fourth-quarter 2012 results on Thursday, bringing a positive close to a year overshadowed by the loss of its Argentine YPF affiliate. After Buenos Aires’ nationalization of YPF last April, Repsol was forced to undertake a major corporate restructuring in order to cut its net debt and raise funds for upstream growth, as well as defend its investmentgrade credit rating.