S&P maintains Ecopetrol's global credit rating at BB+

Core Viewpoint - S&P Global Ratings has maintained Ecopetrol's global credit rating at BB+ with a negative outlook, while also lowering its Stand Alone Credit Profile (SACP) rating from bbb- to bb+ due to lower oil prices and exchange rate volatility impacting financial performance [1][2]. Group 1: Financial Performance - Ecopetrol's debt/EBITDA ratio is expected to remain above 2.0, indicating ongoing financial pressure [2]. - The company has faced challenges from lower oil prices and exchange rate fluctuations over the past year [2]. Group 2: Strategic Positioning - S&P highlighted Ecopetrol's strategy focused on growth prospects, reserve replenishment, and strengthening its investment portfolio through business diversification and profitability margins [2]. - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production, and holds leading positions in petrochemicals and gas distribution [3]. Group 3: Operational Scope - The company has expanded its operations through the acquisition of 51.4% of ISA's shares, participating in energy transmission and various infrastructure projects [3]. - Ecopetrol has international drilling and exploration operations in the United States (Permian basin and Gulf of Mexico), Brazil, and Mexico, and holds significant positions in power transmission in Brazil, Chile, Peru, and Bolivia [3].