Fitch upgrades Pampa Energía (PAM) ratings and shifts outlook positive

Rhea-AI Filing Summary

Pampa Energía S.A. reports that Fitch Ratings has upgraded several of its credit ratings. The Company’s foreign currency and local long-term rating improved from “B-” to “B”, while its debt rating was raised from “B” to “B+”. Fitch also revised the rating perspective from stable to positive, signaling a more favorable view of Pampa’s credit profile and future ability to meet its financial obligations.

Positive

• Credit rating upgrades by Fitch: Foreign currency and local long-term rating increased from “B-” to “B”, and debt rating raised from “B” to “B+”, indicating a stronger external view of Pampa Energía’s credit quality.
• Outlook revised to positive: Fitch changed the rating perspective from stable to positive, suggesting improving conditions that, if maintained, may support further credit strengthening.

Negative

• None.

Insights

Credit and capital markets analyst

Fitch upgrades Pampa Energía’s ratings and outlook to a more positive level.

Fitch Ratings raised Pampa Energía’s foreign currency and local long-term rating from “B-” to “B” and its debt rating from “B” to “B+”. This signals an improved external assessment of the Company’s ability to service its obligations.

The move from a stable to a positive perspective suggests Fitch now sees conditions that could support further strengthening if performance and operating conditions develop as expected. Higher ratings can, in some cases, support better financing terms and broader market access, subject to overall market conditions.

Investors may focus on how Pampa’s future financial disclosures align with this improved assessment, particularly its ability to sustain cash generation and manage leverage under the operating environment described by Fitch.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2026

(Commission File No. 001-34429),

PAMPA ENERGIA S.A.
(PAMPA ENERGY INC.)

Argentina

(Jurisdiction of incorporation or organization)

Maipú 1
C1084ABA
City of Buenos Aires
Argentina

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F ___X___ Form 40-F ______

(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.)

Yes ______ No ___X___

(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- .)

This Form 6-K for Pampa Energía S.A. (“Pampa” or the “Company”) contains:

Exhibit 1: Letter dated March 3, 2026 entitled “Relevant Event. Credit rating of the Company”

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: March 3, 2026

Pampa Energía S.A.
By:	/s/ Gustavo Mariani
	Name: Gustavo Mariani Title:   Chief Executive Officer

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

 

Buenos Aires, March 3rd, 2026

COMISIÓN NACIONAL DE VALORES

BOLSAS Y MERCADOS ARGENTINOS S.A.

Ref.: Relevant Event. Credit rating of the Company

Dear Sirs,

I am writing to you, in my capacity as Head of Market Relations of Pampa Energía S.A. (the “Company”) in order to inform an improvement in the Company's foreign currency and local long term rating from “B-” to “B” and an improvement in the debt rating from ‘B’ to “B+”, according to the report published by Fitch Ratings. The rating’s perfective was revised from stable to positive.

Sincerely,

________________________________

María Agustina Montes

Head of Market Relations

FAQ

What credit rating changes did Fitch make for Pampa Energía (PAM)?

Fitch Ratings upgraded Pampa Energía’s foreign currency and local long-term rating from “B-” to “B” and raised its debt rating from “B” to “B+”. This reflects a stronger view of the Company’s capacity to meet financial obligations under current conditions.

How did Fitch’s outlook on Pampa Energía’s rating change?

Fitch revised Pampa Energía’s rating perspective from stable to positive. A positive perspective indicates Fitch now sees improving conditions around the Company’s credit profile, which could, if sustained, support further strengthening over time.

Does Fitch’s upgrade affect Pampa Energía’s foreign currency and local ratings equally?

Yes. Fitch improved both the foreign currency and local long-term rating of Pampa Energía from “B-” to “B”. Aligning these ratings at a higher level indicates an across-the-board improvement in Fitch’s assessment of the Company’s long-term creditworthiness.

What happened to Pampa Energía’s debt rating in the latest Fitch review?

Pampa Energía’s debt rating was upgraded from “B” to “B+” by Fitch Ratings. This higher debt rating typically reflects a better view of the risk associated with the Company’s obligations, which can be important for future financing and investor perception.

Why is a positive rating perspective from Fitch important for Pampa Energía?

A positive perspective from Fitch suggests the agency sees trends that could further improve Pampa Energía’s credit profile. While not a guarantee of future upgrades, it signals a more favorable trajectory than a stable or negative perspective would imply.

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