Ancap seeks loan as price freeze widens losses

Ancap seeks loan as price freeze widens losses

Corporate & Sovereign Strategy Loans Latin America South America Uruguay Oil Energy Coronavirus

Uruguay's state-owned oil company Ancap has asked the government for authorization to take out a $40 million loan and possibly one or more contingency lines of credit to help cover rising oil and petroleum product costs while its product prices remain frozen, according to a local media report on Wednesday. Ancap's board of directors wants to borrow the money from Banco República, a state bank, El Observador newspaper reported. Ancap did not respond to a request for more information. According to

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