Fitch Keeps Ecopetrol S.A. At BB+ With A Stable Outlook

Colombian petroleum company Ecopetrol SA (BVC: ECOPETROL; NYSE: EC) has reported that Fitch Ratings affirmed the company’s credit rating at BB+ with a stable outlook and the stand-alone rating at bbb (without incorporating government support).

Fitch highlighted the company’s linkage to the Republic of Colombia, which currently owns 88.5% of the voting shares, as well as the strategic importance of the company for the country. Likewise, Fitch Ratings recognizes Ecopetrol’s ability to maintain a solid financial position.

Finally, the rating agency emphasized Ecopetrol’s liquidity, supported by its cash generation, proven access to the capital markets and adequate debt maturity profile.