Moody's Maintains Ecopetrol S.A.'s International Rating at Baa2
August 11, 2014 at 17:43 PM EDT
BOGOTA, Colombia, Aug. 11, 2014 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that the risk rating agency Moody's Investors Service has maintained its international rating at Baa2 with a stable outlook.
This rating action follows the upgrade of the Republic of Colombia from Baa3 to Baa2 on July 28, 2014.
The complete report is available on the website www.moodys.com.
Ecopetrol is the largest company in Colombia and is integrated into the oil chain; it is among the 50 major oil companies in the world and among the four main ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it is present in exploration and production activities in Brazil, Peru & US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.
This report contains statements associated with the business perspectives, estimates for operational and financial outcomes and affirmations associated to Ecopetrol's growth. All the above are projections, and as such are solely based on the expectations of its directors with respect to the future of the company and its ongoing access to capital to fund the company's commercial plan. The realization of such estimates in the future depends on market conditions, regulations, competitiveness, performance of Colombia's economy and industry, to mention a few; therefore, they are subject to changes without previous notice.
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Investor Relations Director
SOURCE Ecopetrol S.A.