S&P Global Ratings Affirms Ecopetrol’s (EC) Global Credit Rating at BB-

Ecopetrol S.A. (NYSE:EC) is one of the top cheap growth stocks to get rich. Ecopetrol S.A. (NYSE:EC) announced on June 16 that the S&P Global Ratings affirmed the company’s global credit rating at BB- with a stable outlook, along with the company’s Stand-Alone Credit Profile at bb+. Management stated that the credit rating highlights S&P’s assessment as of the date hereof and is subject to change at any time.

It further reported that with respect to its stand-alone rating, S&P noted the continued strengthening of Ecopetrol’s (NYSE:EC) liquidity sources, while also highlighting that the company secured a committed credit facility of approximately USD190 million, has benefited from higher operating cash flows, and has refinanced its short-term debt maturities. Furthermore, according to S&P, Ecopetrol S.A. (NYSE:EC) is anticipated to “maintain solid leverage metrics, with an adjusted net debt-to-EBITDA ratio close to 2.0x over the coming years, supported by a favorable price environment and no significant debt increases in the short term”.

Ecopetrol S.A. (NYSE:EC) explores, develops, and produces crude oil and natural gas. Its operations are divided into the following segments: Exploration and Production, Transportation and Logistics, and Refining and Petrochemicals.

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