S&P revises Ecopetrol view to negative

S&P said it revised its outlook for Ecopetrol SA to negative from stable and affirmed its BB+ ratings.

Because it sees the very high likelihood the Colombian government, which owns Ecopetrol, would provide extraordinary support to the company, the agency said it links the company’s outlook and ratings with those of the government.

On Thursday, S&P revised the outlook on its foreign- and local-currency ratings on Colombia to negative from stable and affirmed the BB+/B foreign-currency and BBB-/A-3 local currency ratings.

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