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20.05.2014 18:33:00
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Ecopetrol S.A. -- Moody's assigns Baa2 rating to Ecopetrol proposed notes
New York, May 20, 2014 -- Moody's Investors Service assigned a foreign currency rating of Baa2 to USD 1.5 billion of proposed notes due 2044 to be issued by Ecopetrol S.A. (Ecopetrol), the state oil company of Colombia. The proposed securities are senior unsecured and pari passu with Ecopetrol's other senior foreign currency debt, which is also rated Baa2. Proceeds from the notes issuance will be used primarily to fund capital expenditures. The rating outlook is stable.
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