Fitch bajó calificación crediticia de Ecopetrol a BB con perspectiva 'estable' tras el ajuste a la baja a Colombia

TL;DR

Fitch Ratings downgraded Ecopetrol's global rating from BB+ to BB with a 'stable' outlook.
The downgrade is in line with the downgrade of Colombia's sovereign rating to BB.
Fitch highlighted the strong link between Ecopetrol and the sovereign, limiting the company's credit profile.
Ecopetrol's rating is capped due to the absence of legal separation of cash flows and significant government control.
Ocensa's long-term credit rating was also downgraded from BB+ to BB with a Stable Outlook.
Ocensa's rating is closely linked to Ecopetrol, its main customer and the country's largest oil producer.
Fitch maintained Ecopetrol's Stand Alone Credit Profile (SACP) at 'bbb-', which is considered investment grade.
This 'bbb-' SACP suggests that Ecopetrol has strong standalone fundamentals beyond the country's macroeconomic and fiscal environment.
The downgrades are part of a broader review of Colombian companies following the sovereign downgrade.

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