Moody's: Baa3 to Black Gold

Moody's Investors Service said it assigned a Baa3 insurance financial strength rating to Black Gold Re SA, the captive reinsurance subsidiary of Ecopetrol SA.

The outlook is stable.

According to Moody's, Black Gold Re's rating is based primarily on the integration and support provided by its ultimate parent, in terms of risk management, given Black Gold Re provides extensive property coverage to the group's operations in the Americas.

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