BOGOTA, Colombia, Dec. 12, 2016 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC) reports that the risk rating agency
Fitch Ratings has kept the Company at investment grade, with an
international rating of BBB.
Fitch Ratings notes the important link between the Company and
the Republic of Colombia's rating,
and the Ecopetrol business group's strategic relevance to the
country.
The agency further reported that Ecopetrol's individual rating
is also investment grade with a rating of BBB-; and including the
Government's support this rating raises to BBB. The aspects the
rating agency took into account in issuing its rating included: the
Company's solid financial profile, a downward-trending debt/EBITDA
ratio, solid liquidity and a schedule of moderate debt maturities
in coming years.
The agency also noted Ecopetrol's operational metrics and the
decline in extraction costs in recent years.
Finally, it maintained the Company's negative perspective,
consistent with the Republic of Colombia's outlook.
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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, please contact:
Head of Corporate Finance and Investor Relations
María Catalina Escobar
Phone: +571-234-5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio
Tellez
Phone: +571-234-4329
e-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.