Moody's Maintains Ecopetrol's Global Credit Rating at Ba1 with a Stable Outlook

Core Insights - Moody's has maintained Ecopetrol's global credit rating at Ba1 with a stable outlook, reflecting the company's significant role in Colombia's oil and gas production and its stable cash flow from subsidiaries [1][2][3] Group 1: Company Overview - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production and holding leading positions in transportation, logistics, and refining systems [3] - The company has over 19,000 employees and has expanded its operations internationally, with drilling and exploration activities in the United States, Brazil, and Mexico [3] Group 2: Financial Performance - The increase in production and the reduction of the Fuel Price Stabilization Fund (FEPC) have positively impacted the company's liquidity [2][3] - Moody's expects Ecopetrol's financial obligations to be supported by access to both global and Colombian capital markets, as well as government support [3]