Moody’s changes Ocensa to stable

Moody's Investors Service said it affirmed Oleoducto Central SA's (Ocensa) Baa3 senior unsecured ratings and changed the outlook to stable from negative.

This action follows a similar action on Ecopetrol SA’s Baa3 ratings.

"The equalization of Ocensa's ratings and outlook to those of Ecopetrol SA (Ecopetrol, Baa3 stable) reflects Moody's view that Ocensa's credit profile is closely linked to that of its main shareholder and controlling entity," Moody’s senior credit officer Nymia Almeida said in a news release.

"The change in outlook to stable from negative also incorporates the stable oil production growth trend in Colombia and our expectation that Ocensa will remain the transportation of choice in the country."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.