Ecopetrol’s BB- Rating Affirmed with $190M Facility and 2.0x Leverage Forecast
EC•Ecopetrol's global and stand-alone credit ratings were affirmed at BB- and bb+, respectively, with a stable outlook. The affirmation cited strengthened liquidity through a $190 million committed credit facility, refinanced debt maturities, and projected net debt-to-EBITDA near 2.0x.
1. Credit Ratings Affirmed
Ecopetrol received affirmation of its global credit rating at BB- and its Stand-Alone Credit Profile at bb+ with a stable outlook. This confirmation reflects the company’s creditworthiness following a review of its financial metrics and market position.
2. Liquidity Enhancements
The company secured a committed credit facility of approximately $190 million and refinanced its short-term debt maturities, bolstering near-term liquidity. These measures, alongside higher operating cash flows, enhance Ecopetrol’s ability to meet obligations and invest in operations.
3. Leverage Outlook
Ecopetrol is projected to maintain an adjusted net debt-to-EBITDA ratio close to 2.0x over the coming years, supported by a robust oil and gas price environment and no significant new debt issuance. This stable leverage forecast underpins the company’s financial resilience.
4. Government Linkage
The stable outlook is tied to Ecopetrol’s strategic importance to the Republic of Colombia and its close relationship with the government. This linkage underscores the company’s role as a key contributor to national energy infrastructure and the broader Colombian economy.
