Moody's assigns Baa3 to Ecopetrol notes

Moody's Investors Service said it assigned a Baa3 rating to Ecopetrol SA's proposed global notes.

The Baa3 rating on the proposed notes is based on Ecopetrol’s rating, Moody’s said.

The proposed notes are senior unsecured, unsubordinated and pari passu with Ecopetrol's other senior foreign-currency debt.

Proceeds will be used for corporate purposes, including debt refinancing.

The outlook is stable.

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