BOGOTA, Colombia, June 25, 2015 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC; TSX: ECP) hereby reports that the credit
rating agency Moody's Investors Service has maintained Ecopetrol's
long term international rating at Baa2 with a stable outlook.
In its announcement, Moody's mentioned that "the rating
affirmation was based on Ecopetrol's solid business strategy, now
focused on expanding exploration activities to increase reserves as
well as on improving production recovery and operating efficiencies
across the board, which will help the company protect its credit
quality through the current cycle of lower oil prices."
The rating decision also considered, among other factors,
Ecopetrol's leading position in Colombia and the size of its operations.
The full report is available at www.moodys.com. A credit rating
is not a recommendation to buy, sell or hold securities and may be
revised or withdrawn by the rating agency at any time.
Ecopetrol is the largest company in Colombia and is an integrated oil and gas
company; it is among the top 40 oil companies in the world and
among the top four oil companies in Latin
America. Besides Colombia –
where it generates over 60% of the national production – it has
exploration and production activities in Brazil, Peru,
and the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia, most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
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
and gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, Ecopetrol'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 Hoyos
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.