S&P lowers Ocensa to negative

Standard & Poor’s said it revised the outlook on Oleoducto Central SA (Ocensa) to negative from stable.

The agency also said it affirmed the company’s BBB long-term corporate credit rating.

The outlook revision reflects a similar rating action on Ecopetrol SA as Ocensa is considered a core subsidiary of Ecopetrol, S&P said.

The outlook revision is unrelated to the credit quality of Ocensa, the agency said, which has been resilient throughout 2015 with credit metrics in line with expectations.

Ocensa’s BBB+ stand-alone credit rating reflects its satisfactory business risk profile and strong market position as a transporter of about 60% of Colombia’s crude oil production and 70% of crude oil exports, S&P said.

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