Moody's confirms Ecopetrol S.A.'s investment-grade rating
June 21, 2017 at 08:39 AM EDT
BOGOTA, Colombia, June 21, 2017 /PRNewswire/ -- Ecopetrol S.A (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") reports that the risk-rating agency Moody's Investors Service has maintained its international credit investment-grade rating of Baa3.
Moody's noted that since 2016, a greater operating and capital efficiencies combined with high oil prices have helped Ecopetrol improve its credit metrics and cash flow, which have enhanced its capacity for debt and investments in new reserves. At the same time, the rating agency stressed the favorable results of the Transportation sector in recent years.
In its report, the agency maintained the Company's negative prospects given current reserve life, while awaiting the results of the investment plan for organic and non-organic growth; and progress in the Reficar investigations.
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 & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company'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:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/moodys-confirms-ecopetrol-sas-investment-grade-rating-300477468.html
SOURCE Ecopetrol S.A.