S&P affirms Ecopetrol S.A.'s investment rating
June 27, 2018 at 19:29 PM EDT
BOGOTÁ, Colombia, June 27, 2018 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the Standard & Poor's rating agency (S&P) has kept the company's long-term international rating at BBB-, with stable outlook, and stand-alone credit rating at bb+.
In its report, S&P highlighted Ecopetrol S.A.'s solid financial results, with strengthened credit metrics, thanks to the capital discipline and efficiencies it has implemented.
The rating agency noted the positive performance of the downstream and midstream segments, emphasizing the Cartagena refinery's operating results during its stabilization stage.
In turn, S&P recognized Ecopetrol's focus on increasing reserves, with the positive results posted on the 2017 balance sheet.
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.
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SOURCE Ecopetrol S.A.