Fitch affirms Ecopetrol

Fitch Ratings said it affirmed Ecopetrol SA's foreign currency and local currency issuer default ratings at BBB- and BBB, respectively.

Fitch also affirmed Ecopetrol's national long-term issuer default rating at AAA(col). The outlook is stable.

In addition, Fitch has assigned a short-term national scale rating of F1+(col) to Ecopetrol.

The agency said Ecopetrol's ratings reflect the close linkage with the Republic of Colombia, which currently owns 88.5% of the company. Ecopetrol's ratings also reflect its strong financial profile and improving production levels, the agency said.

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