Fitch Affirms Ecopetrol Ratings

Instant Max AI

(Ecopetrol S.A., 22.Jun.2015) – Fitch Ratings affirmed Ecopetrol S.A.’s foreign and local currency Issuer Default Ratings at ‘BBB’ and ‘BBB+’, respectively.

Concurrently, Fitch has affirmed the company’s national scale short and long-term ratings of ‘F1+(col) and ‘AAA(col). The Rating Outlook for all ratings is Stable.

According to Fitch, “Ecopetrol’s ratings reflect its strong financial profile and improving production levels. Ecopetrol’s recently revised growth strategy and associated capex plan are considered adequate for the company’s credit quality and cash flow generation ability. Ecopetrol is expected to maintain a financial and credit profile consistent with the assigned rating.”

In the report, Fitch mentioned that, “Ecopetrol’s relatively sizable reserves, stable production levels and dominant domestic market share allow the company to generate consistently strong cash flows from operations and meet its obligations in a timely manner.”

***

Previous post Pemex Attends Contingency at Akal-H Platform
Next post Moody’s Changes PBF Rating Outlook

Leave a Reply

Your email address will not be published.