Fitch Ratings Downgrades Ecopetrol’s Global Rating Following Sovereign Cut

Credit rating agency Fitch Ratings has downgraded Ecopetrol’s global rating from BB+ to BB with a Stable Outlook, aligning with the downgrade of Colombia’s sovereign rating. The agency maintained Ecopetrol’s Standalone Credit Profile (SACP) at ‘bbb-’, citing the company’s strategic importance as Colombia’s leading hydrocarbon producer. The downgrade reflects the strong link between Ecopetrol and the Colombian sovereign rating. Ecopetrol, Colombia's largest company and a major integrated energy company in the Americas, is involved in hydrocarbon production, transportation, refining, petrochemicals, and gas distribution. It also has significant interests in energy transmission, highway concessions, and international operations in the oil and gas sector, as well as in the power transmission and telecommunications sectors in other South American countries. The company acknowledges that forward-looking statements are subject to risks and uncertainties, including market prices, exploration activities, regulatory changes, and the performance of Colombia's economy.