Ecopetrol SA (EC) has released an update.
Moody’s Investors Service has downgraded Ecopetrol SA’s credit rating from Baa3 to Ba1, but improved the outlook from negative to stable, reflecting the company’s strong position as Colombia’s leading oil and gas producer and its stable cash flow from subsidiaries. The downgrade was influenced by the company’s debt management and dividend distribution, but Moody’s acknowledges Ecopetrol’s ability to meet financial obligations with government support and access to global capital markets.
For further insights into EC stock, check out TipRanks’ Stock Analysis page.
