BOGOTA, Colombia , July 30,
2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL;
NYSE: EC) ("Ecopetrol" or the "Company") reports that the credit
rating agency Fitch Ratings maintained the Company's credit rating
at BB+ with a stable outlook. Additionally, the agency reaffirmed
the Company's national long- and short-term ratings at 'AAA(col)'
and 'F1+(col)', respectively, both with a stable outlook.
The rating agency highlighted Ecopetrol's solid financial
profile, the strategic importance of the Company for Colombia, stable operating metrics, as well as
the available cash and continued access to capital markets. On the
other hand, according to the agency's estimates, the potential
acquisition of assets in the Permian Basin is not expected to
significantly affect the Company's credit profile.
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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, 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 press release contains business prospect
statements, operating and financial result estimates, and
statements related to Ecopetrol's growth prospects. These are all
projections and, as such, they are based solely on the expectations
of the managers regarding the future of the company and their
continued access to capital to finance the company's business plan.
The realization of said estimates in the future depends on the
behavior of market conditions, regulations, competition, and the
performance of the Colombian economy and the industry, among other
factors, and are consequently subject to change without prior
notice.
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.
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.