(Ecopetrol, 19.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that S&P Global Ratings modified the outlook of Ecopetrol’s credit rating from stable to negative, as a result of the review in the outlook of Colombia’s credit rating, also from stable to negative.
Likewise, S&P confirmed that Ecopetrol’s global rating is maintained at ‘BB+’ and ratified its independent credit profile (Stand-Alone) with investment grade at ‘bbb-‘, stating that a review of Ecopetrol’s independent profile is not expected during the next 12 months.
Finally, S&P has stated that Ecopetrol will continue to play an important role in the Colombian economy, and given the government’s participation in the company, its rating will correlate to that of Colombia.
The report issued by S&P on 18 Jan. 2024 announcing the change in the rating outlook will be published in a future statement.
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