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-.
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
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SOURCE Ecopetrol S.A.