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Fitch Ratings maintains Ecopetrol's overall credit rating at BB+ and stable outlook.
ECEcopetrol(EC) Prnewswire·2024-11-08 22:37

Credit Rating and Financial Profile - Fitch Ratings maintained Ecopetrol's global credit rating at BB+ with a stable outlook, reflecting the company's stable operational condition and strategic importance [1][2] - The Standalone Credit Profile (SCP) was downgraded from 'bbb' to 'bbb-', but remains within the Investment Grade range and above the company's global rating [1][3] - Ecopetrol's national long-term and short-term ratings were affirmed at 'AAA (col)' with a Stable Outlook and 'F1+(col)', respectively [1] Operational and Strategic Position - Ecopetrol is the leading producer of oil and gas in Colombia, responsible for over 60% of the country's hydrocarbon production [4] - The company has a significant energy transmission business in Colombia and other Latin American countries through its subsidiary Interconexión Eléctrica S A E S P - ISA [2] - Ecopetrol holds leading positions in petrochemicals, gas distribution, and power transmission businesses in Brazil, Chile, Peru, and Bolivia [4] International Presence and Subsidiaries - Ecopetrol has strategic operations in the United States (Permian basin and Gulf of Mexico), Brazil, and through ISA, in Chile, Peru, and Bolivia [4] - The company acquired 51 4% of ISA's shares, expanding its involvement in energy transmission, real-time systems management, and road concessions [4] - Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with over 19,000 employees [4]