BOGOTA,
Colombia, Nov. 8, 2024 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company" or "Ecopetrol")
informs that Fitch Ratings reported on November 6, 2024, that it has maintained the
global credit rating of the Company at BB+ with a stable
outlook. Additionally, the agency has downgraded the Standalone
Credit Profile ("SCP") from 'bbb' to 'bbb-' and
affirmed the national long-term and short-term ratings
of Ecopetrol at 'AAA (col)' with a Stable Outlook
and 'F1+(col)', respectively.
Fitch noted that the global rating of 'BB+' reflects
the stable operational condition of the Company as the leading
producer of oil and gas in Colombia, as well as its significant energy
transmission business in Colombia
and other Latin American countries through its
subsidiary Interconexión Eléctrica S.A. E.S.P -ISA. The agency
indicated Ecopetrol's strategic importance and ability to maintain
a solid financial profile.
The evaluation of the aforementioned factors and the other
considerations contained in the report support an individual rating
that is within Investment Grade and at a level above the Company's
overall rating.
The assessment of the aforementioned factors and other
considerations contained in the report supports an SCP that remains
within the Investment Grade range and above the Company's global
rating.
The complete report issued by the agency on November 6, 2024, can be consulted at the
following link:
https://www.fitchratings.com/research/corporate-finance/fitch-affirms-ecopetrol-foreign-local-currency-idrs-at-bb-outlook-stable-06-11-2024
Ecopetrol is the largest company in Colombia and one of the main integrated energy
companies in the American continent, with more than 19,000
employees. In Colombia, it is
responsible for more than 60% of the hydrocarbon production of most
transportation, logistics, and hydrocarbon refining systems, and it
holds leading positions in the petrochemicals and gas distribution
segments. With the acquisition of 51.4% of ISA's shares, the
company participates in energy transmission, the management of
real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the
international level, Ecopetrol has a stake in strategic basins in
the American continent, with Drilling and Exploration operations in
the United States (Permian basin
and the Gulf of Mexico),
Brazil, and, through ISA and its
subsidiaries, Ecopetrol holds leading positions in the power
transmission business in Brazil,
Chile, Peru, and Bolivia, road concessions in
Chile, and the telecommunications
sector.
For more information, please contact:
Head of Capital Markets (a)
Lina María Contreras Mora
Email: investors@ecopetrol.com.co
Head of Corporate Communications
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co
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SOURCE Ecopetrol S.A.
