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

Moody´s upgrades Ecopetrol S.A.'s baseline credit assessment and confirms its investment-grade rating


BOGOTÁ, Colombia, July 16, 2018 /CNW/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the risk-rating agency Moody's increased Ecopetrol's baseline credit assessment (BCA) two notches, to ba1 from ba3.

Ecopetrol Logo.

Moody's notes that the higher BCA was due to the Company's solid metrics and progress in its strategy of growth and adding to reserves, with a reserves replacement index of 126% at the end of 2017. In the press release, Moody's highlighted the Company's four areas of growth:

  1. Implementation of improved recovery and infill projects.
  2. Exploration.
  3. Assessment of opportunities in non-conventional deposits.
  4. Inorganic growth leveraged on its strong cash position.

The rating agency noted the Company's solid liquidity and the management team's commitment to protecting credit metrics.  It maintained the Company's rating at Baa3 with a stable outlook.

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 (e)
Lina María Contreras
Telephone: +571-234-5190  
Email: [email protected]  

Media Relations (Colombia 
Jorge Mauricio Tellez  
Telephone: + 571-234-4329  
Email: [email protected] 

SOURCE Ecopetrol S.A.


These press releases may also interest you

28 mar 2024
Curio Legacy Ventures (Curio), a frontrunner in nuclear technology innovation, proudly announces a strategic partnership with Navarro Research and Engineering, Inc. (Navarro). This collaboration signals a significant step forward in advancing nuclear...

28 mar 2024
Arctech has recently signed a contract for the 500MW Manah I power plant project in Oman, following its successful bid for the 588MW Manah II PV project in Oman earlier in 2023. This consecutive project win showcases Arctech's customized solutions...

28 mar 2024
The "Fuel Cells - Global Strategic Business Report" has been added to  ResearchAndMarkets.com's offering. The global market for Fuel Cells estimated at US$11.4 Billion in the year 2023, is projected to reach a revised size of US$40.7 Billion by...

28 mar 2024
Peabody today filed its Proxy Statement for its 2024 Annual Meeting of Stockholders to be held on May 9, 2024, which disclosed that current members of Peabody's Board of Directors Samantha B. Algaze and David J. Miller have determined that they will...

28 mar 2024
Quanta Services, Inc. announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.09 per share, or a rate of $0.36 per share on an annualized basis. The dividend is payable on April 17, 2024, to...

28 mar 2024
ONEOK, Inc. will release first quarter 2024 earnings after the market closes on April 30, 2024. ONEOK's executive management will participate in a conference call the following day.      What:              ONEOK first quarter 2024 earnings...



News published on and distributed by: