Moody's increases Ecopetrol's BCA, affirms IG rating

Moody's increases Ecopetrol's BCA, affirms IG rating

Capital Markets Corporate & Sovereign Strategy Energy Colombia

Moody's has increased Ecopetrol's baseline credit assessment (BCA) to Ba1 from Ba3 and affirmed its investment grade (IG) rating on the back of solid credit metrics. The Colombian state-run oil company also drew praise from the rating agency for its strategy of increasing oil reserves. Moody's said Ecopetrol's reserves replacement index reached 126% at the end of last year. Moody's also highlighted four factors - the company's implementation of improved recovery and infill projects, its explor

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial