(Ecopetrol, 12.Dec.2016) – Ecopetrol S.A. reported the risk rating agency Fitch Ratings kept the company at investment grade, with an international rating of BBB.
Fitch notes the important link between the company and the Republic of Colombia’s rating, and the Ecopetrol business group’s strategic relevance to the country.
The agency further reported that Ecopetrol’s individual rating is also investment grade with a rating of BBB; and including the government’s support this rating raises to BBB. The aspects the rating agency took into account in issuing its rating included: the company’s solid financial profile, a downward-trending debt/EBITDA ratio, solid liquidity and a schedule of moderate debt maturities in coming years.
The agency also noted Ecopetrol’s operational metrics and the decline in extraction costs in recent years.
Finally, it maintained the company’s negative perspective, consistent with the Republic of Colombia’s outlook.
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