Fitch Ratings Affirms Ecopetrol's National and International Ratings and Highlights Its Financial Strength

Fitch highlighted Ecopetrol's liquidity strengths while maintaining its standalone credit profile within investment grade.

Rhea-AI Summary

Ecopetrol (NYSE: EC) announced that Fitch Ratings affirmed its global credit rating at BB with a Stable Outlook.

Fitch also maintained the company's standalone credit profile, an assessment of its creditworthiness on its own, at bbb-, within investment grade. National long-term and short-term ratings were affirmed at AAA(col), with a Stable Outlook, and F1+(col), respectively. Fitch highlighted Ecopetrol's cash position, access to capital markets and debt maturity structure as liquidity strengths. The agency estimates that Ecopetrol will not face challenges refinancing debt obligations maturing in 2027.

Positive

• Minor pointBB global credit rating affirmed by Fitch with a Stable Outlook.
• Minor pointbbb- standalone credit profile maintained within investment grade.
• Minor pointAAA(col) national long-term rating affirmed with a Stable Outlook.
• Minor pointF1+(col) national short-term rating affirmed by Fitch.
• Minor pointLiquidity supported by cash, capital-market access and debt maturity structure, in Fitch's assessment.
• Minor point. Forward-looking: it has not happened yet and may not happen.2027 debt maturities are not expected to present refinancing challenges, Fitch estimates.

Negative

• None.

Key Figures

Global credit rating: BB Standalone credit profile: bbb- National long-term rating: AAA(col) +2 more

Global credit rating

BB

Fitch affirmed the rating with a Stable Outlook

Standalone credit profile

bbb-

Fitch affirmed Ecopetrol's SACP

National long-term rating

AAA(col)

Fitch affirmed the rating with a Stable Outlook

National short-term rating

F1+(col)

Fitch affirmed the rating

Debt maturity year

2027

Fitch estimated Ecopetrol would not face challenges refinancing obligations maturing that year

Key Terms

sacp, stable outlook

2 terms

sacp financial

"standalone credit profile (SACP)"

Stand‑Alone Credit Profile (SACP) is a credit-rating agency metric that represents an entity’s intrinsic creditworthiness based on its own financial strength and business risk, before accounting for potential external support such as parental guarantees, government backing, or strategic linkages. It shows the level of default risk the rating agency attributes to the borrower or issuer on its own merits; the issuer’s final rating may be higher if analysts conclude credible external support exists.

stable outlook financial

"global credit rating at BB, with a Stable Outlook"

A stable outlook is a credit-rating agency’s view that a company’s credit rating is unlikely to change over the medium term, indicating expected steadiness in its financial condition and ability to meet obligations. For investors it matters because a stable outlook signals lower likelihood of sudden changes to borrowing costs, dividend capacity or default risk—like a calm weather forecast, it helps set expectations about near-term risk and return.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BOGOTA, Colombia, Oct. 20, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that, in its report dated October 20, 2026, Fitch Ratings ("Fitch") affirmed the Company's global credit rating at BB, with a Stable Outlook, and its standalone credit profile (SACP) at'bbb-'. In addition, Fitch affirmed Ecopetrol's national long-term and short-term ratings at'AAA(col)', with a Stable Outlook, and'F1+(col)', respectively.

Fitch stated that the 'BB' global rating reflects the Company's robust financial profile and the stability of its operating metrics. In turn, Ecopetrol's standalone credit rating remains within Investment Grade (bbb-), in line with international peers in the sector.

Among the key strengths highlighted by the rating agency were Ecopetrol's liquidity profile, supported by a strong cash position, broad access to capital markets, and an adequate debt maturity structure. Fitch also estimates that the Company will not face challenges refinancing its debt obligations maturing in 2027.

The full report issued by Fitch Ratings on October 20^th, 2026, which provides detailed rationale for the ratings, can be accessed below:

https://www.fitchratings.com/research/corporate-finance/fitch-affirms-ecopetrol-foreign-local-currency-idrs-at-bb-outlook-stable-20-10-2026

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Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla–Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with drilling and exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. 

For more information, please contact:

Investor Relations Office
Email: investors@ecopetrol.com.co 

Corporate Communications (Colombia)   
Email: _noticias@ecopetrol.com.co 

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SOURCE Ecopetrol S.A.

FAQ

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What credit ratings did Fitch affirm for Ecopetrol (EC)?

Fitch affirmed Ecopetrol's global credit rating at BB with a Stable Outlook and its standalone credit profile at bbb-. It also affirmed the national long-term rating at AAA(col) with a Stable Outlook and the national short-term rating at F1+(col).