BOGOTA, Colombia, Dec. 12, 2013 /CNW/ - Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces
that Fitch Ratings, a credit rating agency, has upgraded its foreign
and local currency ratings of Ecopetrol S.A. from BBB- and BBB to BBB
and BBB+, respectively. Furthermore, both rating outlooks were revised
(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )
This upgrade is consistent with Fitch Ratings' upgrade on December 10 of
Colombia's sovereign rating in foreign and local currency from BBB- and
BBB to BBB and BBB+ respectively.
The complete report is available at www.fitchratings.com
Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of
total production. It is one of the top 50 oil companies in the world
and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities
in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the
country, petrochemical plants, and is entering into the 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 fund the Company's business plan.
Such forward-looking statements depend, substantially, on changes in
market conditions, government regulations, competitive pressures, the
performance of the Colombian economy and the industry, among other
factors; therefore, they are subject to change without prior notice.
SOURCE: Ecopetrol S.A.
For further information:
Investor Relations, Alejandro Giraldo, Phone: +571-234-5190, Email: firstname.lastname@example.org; Media Relations (Colombia), Mauricio Téllez, Phone: + 571-2345377, Fax: +571-2344480, Email: email@example.com