BOGOTA,
Colombia, Feb. 27, 2025 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company" or "Ecopetrol")
informs that, on February 24, 2025,
Moody's reported the results of its periodic review of the
Company's rating, maintaining its global credit rating at Ba1 with
a stable outlook. Similarly, the individual rating remains at
b1.
Moody's noted that the global rating of 'Ba1' reflects the
Company's status as the main producer of oil and gas in
Colombia, with approximately 60%
of the country's production, as well as its significant energy
transmission business in Colombia
and other Latin American countries, and a solid and stable cash
flow in its subsidiaries Interconexión Eléctrica S.A. E.S.P. and
Cenit SAS.
The rating agency highlighted the increase in production and the
reduction of the balance of the Fuel Price Stabilization Fund
(FEPC), which supports the Company's liquidity, and mentioned that
Moody's expects that Ecopetrol's financial obligations will
continue to be supported by access to global and Colombian capital
markets, and government support.
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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 Mexico, 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.
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, as amended, and Section 21E of the
U.S. Securities Exchange Act of 1934, as amended. 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.
A rating is not a recommendation to buy, sell or hold securities
and may be subject to revision or withdrawal at any time.
For more information, please contact:
Head of Capital Markets
Carolina Tovar
Aragón
Email:
investors@ecopetrol.com.co
Head of Corporate Communications (Colombia)
Marcela Ulloa
Email:
marcela.ulloa@ecopetrol.com.co
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SOURCE Ecopetrol S.A.
