London, 21 March 2016 -- Moody's Investors Service (Moody's) confirmed Repsol S.A.'s (Repsol) Baa2 Issuer Rating and the Baa2/(P)Baa2 guaranteed long-term debt and Prime P-2/(P)P-2 commercial paper ratings of Repsol International Finance B.V. The Ba1 ratings for Repsol International Finance B.V.'s junior subordinated notes are also confirmed, along with Repsol Oil & Gas Canada Inc.'s (formerly Talisman Energy Inc., renamed effective January 1, 2016) Baa3/(P)Baa3 long-term debt ratings. The rating outlook is negative.

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