Le Lézard
Classified in: Oil industry, Business
Subject: RTG

Fitch Ratings confirms Ecopetrol S.A.'s investment-grade rating



BOGOTÁ, Colombia, Dec. 7, 2017 /CNW/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that risk-rating agency Fitch Ratings has maintained the company's credit rating at BBB with stable prospects, and its stand-alone rating without incorporating government support at BBB-.

Ecopetrol Logo. (PRNewsFoto/Ecopetrol S.A.)

The rating agency noted the company's actions to promote a solid financial and cash position, with Gross Debt /EBITDA of 2.1x. In terms of operations, it recognizes the importance of cost reduction, as a result of the company's transformation plan.

Throughout the report it emphasizes the company's close ties to the Colombian Government and Ecopetrol's strategic role in the country.

Fitch also notes that Ecopetrol's stand-alone rating is the best among its Latin American peers such as Petrobras and Pemex, thus confirming its strength.

This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information contact:

Capital Markets Manager
María Catalina Escobar
Telephone: +571-234-5190
Email: investors@ecopetrol.com.co

Media Relations (Colombia)
Jorge Mauricio Tellez
Telephone: + 571-234-4329
Email: mauricio.tellez@ecopetrol.com.co

SOURCE Ecopetrol S.A.


These press releases may also interest you

at 02:00
Anadarko Petroleum Corporation today announced Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of the Mozambique Area 1 co-venturers, has entered into a long-term LNG Sale and Purchase Agreement (SPA) with Électricité de France,...

at 01:14
Ecopetrol S.A. reports that on February 16, 2018, the Colombian Ministry of Finance and Public Credit subscribed the Declaration of the Nation in its role as Majority Shareholder of Ecopetrol S.A. for a 10 year term. In this declaration the Nation...

19 fév 2018
Ecopetrol today announced its proven reserves of oil, condensate and natural gas (1P reserves), including its share in affiliates and subsidiaries, as of December 31, 2017. Reserves were estimated based on US...

19 fév 2018
Vista Oil & Gas, S.A.B. de C.V. ("Vista") (BMV: VISTA), the first Mexican pure E&P listed company in the Mexican Stock Exchange, today announced that it has agreed to acquire a fully operational oil & gas platform from Pampa Energía S.A. ("Pampa")...

19 fév 2018
ONE Gas, Inc. today announced it will participate in the Morgan Stanley Utilities, Clean Tech and Midstream Energy Conference on Monday, Feb. 26, 2018, in New York City. Pierce H. Norton II, president and chief executive officer, and Curtis Dinan,...

19 fév 2018
Basic Energy Services, Inc. ("Basic") announced today it is rescheduling the release of its fourth quarter and year end 2017 financial results to Monday, February 26 after the close of market.  The Company has also rescheduled a conference call to...




News published on 7 december 2017 at 20:44 and distributed by: