S&P affirms Ecopetrol

S&P said it revised upward its assessment of Ecopetrol's stand-alone credit profile (SACP) to bbb- from bb+ and affirmed the BBB- long-term issuer credit rating and issue-level ratings.

The outlook is stable.

“The SACP revision is based on Ecopetrol's track record of strong operating performance, thanks to the rise in production to approximately 720,000 boed in 2018, greater refinery throughput, higher oil prices last year, and solid operating efficiencies,” S&P said in a news release.

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