BOGOTA, Colombia,
June 21, 2017
/PRNewswire/ -- Ecopetrol S.A (BVC: ECOPETROL; NYSE: EC)
("Ecopetrol" or the "Company") reports that the risk-rating agency
Moody's Investors Service has maintained its international credit
investment-grade rating of Baa3.
Moody's noted that since 2016, a greater operating and
capital efficiencies combined with high oil prices have helped
Ecopetrol improve its credit metrics and cash flow, which have
enhanced its capacity for debt and investments in new reserves. At
the same time, the rating agency stressed the favorable results of
the Transportation sector in recent years.
In its report, the agency maintained the Company's
negative prospects given current reserve life, while awaiting the
results of the investment plan for organic and non-organic growth;
and progress in the Reficar investigations.
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.