S&P Maintains Ecopetrol Credit Rating Amid Liquidity Gains
S&P Global Ratings has affirmed Ecopetrol’s global credit rating at BB- with a stable outlook, while maintaining the company’s stand-alone credit profile at bb+. The assessment underscores the Colombian energy giant’s improved liquidity position and its ongoing fiscal significance to the national economy despite broader market volatility.
The rating agency pointed to a series of strategic financial moves that bolstered Ecopetrol’s standing, specifically the securing of a 190 million dollar committed credit facility and successful refinancing of short-term debt. These actions, paired with stronger operating cash flows, have provided the company with a more resilient balance sheet.
Looking ahead, S&P projects that Ecopetrol will maintain stable leverage metrics, targeting an adjusted net debt-to-EBITDA ratio near 2.0x. This forecast assumes a favorable pricing environment and a disciplined approach to new debt issuance. The stable outlook remains tethered to the Republic of Colombia, highlighting the firm's critical role as the country’s largest integrated energy provider.
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