Standard & Poor's Maintains Ecopetrol's International Rating
- The foreign currency credit rating remains the same at BBB-
- The rate outlook remains "positive"
- The stand-alone credit rating stays unchanged at bbb-
BOGOTA, Colombia, Dec. 12, 2012 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces that the credit rating agency Standard & Poor's has maintained the company's international foreign currency rating at BBB- with a "positive" outlook. This rating encompasses the issuances of debt by Ecopetrol S.A. in international markets. With these ratings, the company retains its investment grade status.
The full report is available on the website www.standardandpoors.com.
Ecopetrol is Colombia's largest integrated oil company and is among the top 40 oil companies in the world and the top four in Latin America. Besides Colombia, where it accounts for 60% of total production, the company is engaged in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the principal refinery in Colombia and most of its network of oil and multipurpose pipelines, and it is considerably increasing its participation in biofuels.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to finance the company's business plan. Such forward-looking statements depend on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among others; therefore, they are subject to change without prior notice.
For more information, please contact:
Director of Investor Relations
Media Relations (Colombia)
Jorge Mauricio Tellez
SOURCE Ecopetrol S.A.