S&P Maintains Ecopetrol Rating At BB+

(Ecopetrol, 18.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE; EC) announced that the risk rating agency Standard & Poor’s maintained the international long-term rating of Ecopetrol at BB+ and the individual credit rating (Stand Alone) at ‘bbb- ‘, with stable outlook.

The agency highlighted the company’s strategic relevance for Colombia and the benefits of being an integrated business which has allowed the company to capture opportunities along the value chain, despite the impacts of the COVID-19 pandemic. Furthermore, the rating agency pointed out Ecopetrol’s solid financial position in the oil and gas industry with proven access to capital markets. 

Finally, S&P also highlighted the company’s efforts to establish decarbonization goals and considers that ISA acquisition represents a substantial progress regarding the Group’s energy transition allowing diversification towards a regulated and predictable business such as transmission.