BOGOTÁ, Colombia, Sept. 21, 2017 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) announces that the rating agency
Moody's has upgraded the company's perspective to stable and
retained its rating at Baa3.
The upgrade in perspective was due to the company's solid
strategy for adding reserves that the Company is advancing on,
based on four pillars:
- Exploration with strategic partners.
- Implementation of improved recovery and infill projects.
- Evaluation of opportunities in unconventionals.
- Inorganic growth leveraged on the company's strong cash
position.
The rating action was also based on Ecopetrol's solid financial
results, including a good liquidity position and low refinancing
risk.
Finally, Moody's stated that it considers limited risk to
Ecopetrol relating to 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 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
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SOURCE Ecopetrol S.A.