Moody's changes Ecopetrol's credit rating to Ba1 and its outlook from negative to stable
ECEcopetrol(EC) Prnewswire·2024-05-23 21:16

BOGOTA, Colombia, May 23, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") reports that credit rating agency Moody's downgraded its global credit rating from Baa3 to Ba1 and changed the outlook from negative to stable. Additionally, the agency reduced the individual rating (BCA1) from Ba3 to B1. The decision to modify the individual rating was based primarily on its review of debt management, dividend distribution above the Company's policy and cash generation ex ...