Latest news with #Moody's
Yahoo
11 hours ago
- Business
- Yahoo
Moody's Affirms Ecopetrol's Global and Standalone Credit Ratings
BOGOTA, Colombia, June 27, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company" or "Ecopetrol") announces that the credit rating agency Moody's has affirmed the Company's global credit rating at Ba1 with a stable outlook. The agency also confirmed Ecopetrol's standalone rating at b1. Moody's stated that the Ba1 global rating reflects Ecopetrol's position as Colombia's leading oil and gas producer, as well as its significant power transmission business in Colombia and other Latin American countries. The aforementioned factors support a global rating that is three notches above the Company's standalone rating, including the backing of the Colombian government through the gradual phase-out of fuel subsidies, as well as the reduction in accounts receivable related to the Fuel Price Stabilization Fund (FEPC), both of which have contributed to strengthening the Company's liquidity. Regarding the standalone rating, Moody's highlighted the strength and stability of the Company's cash flow, further supported by its power transmission subsidiary (ISA) and midstream affiliates, which together contributed 18% to EBITDA in 2024. The report issued by the rating agency on June 27, 2025, announcing the rating affirmation, can be accessed in the link below: 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: Head of Capital MarketsCarolina Tovar AragónEmail: investors@ Head of Corporate Communications (Colombia) Marcela Ulloa Email: View original content: SOURCE Ecopetrol S.A. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 days ago
- Business
- Bloomberg
Moody's Downgrades Colombia Citing Suspension of Fiscal Rule
Moody's Ratings downgraded Colombia's credit score to Baa3, citing the worsening debt burden and the decision to suspend the fiscal rule which curbed government borrowing. Moody's cut the score one notch from Baa2. The outlook is stable.
Business Upturn
2 days ago
- Business
- Business Upturn
Moody's fully acquires ICR Chile, solidifying its leading position in key Latin American markets
New York, United States: Moody's Corporation (NYSE:MCO) announced today that it has fully acquired ICR Chile (ICR), a leading provider of domestic credit ratings in Chile. The transaction follows Moody's 2019 acquisition of a minority stake in ICR and will further strengthen its presence in Latin America's domestic credit markets. Following the transaction, ICR will continue issuing domestic ratings in Chile under its own rating process and methodologies. In the following months, ICR will be fully integrated into Moody's Local, a group of leading credit rating agencies in Latin America. 'Today's acquisition builds on our successful partnership with ICR and underscores our commitment to Chile's growing debt capital market,' said Martin Fernandez-Romero, Managing Director of Moody's Local. 'Bringing ICR into Moody's Local will enhance our ability to provide high quality credit ratings, research, and analytical services to market participants, while contributing to greater transparency in Latin America.' Founded in 2005, ICR is renowned for its high-quality analyses and the expertise of its analytical teams. It provides ratings across a diverse range of sectors, including corporates, financial institutions, insurers, structured finance vehicles, funds, and project finance. Since Moody's initial investment, ICR has gained market growth, driven by its in-depth creditanalyses and the expansion of its coverage within Chile's domestic ratings market. The terms of the transaction were not disclosed, and it will not have a material impact on Moody's 2025 financial results. About Moody's Local Moody's Local is a group of domestic rating agencies covering 13 Latin America's domestic financial markets. Moody's Local provides domestic credit ratings, research and risk analyses to market professionals with methodologies and seasoned analysts that capture the unique risks and dynamics of each market. Learn more at About Moody's Corporation In a world shaped by increasingly interconnected risks, Moody's (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody's gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at 'Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995 Certain statements included in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody's business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. The forward-looking statements and other information in this document are made as of the date hereof, and Moody's undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, Moody's is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to: the uncertain effects of U.S. and foreign government actions affecting international trade and economic policy, including changes and volatility in tariffs and trade policies and retaliatory actions, on credit markets, customers and customer retention, and demand for our products and services; the impact of general economic conditions (including significant government debt and deficit levels, and inflation or recessions and related monetary policy actions by governments in response thereto) on worldwide credit markets and on economic activity, including on the level of merger and acquisition activity, and their effects on the volume of debt and other securities issued in domestic and/or global capital markets; the uncertain effects of U.S. and foreign government initiatives and monetary policy to respond to the current economic climate, including instability of financial institutions, credit quality concerns, and other potential impacts of volatility in financial and credit markets; the impact of geopolitical events and actions, such as the Russia-Ukraine military conflict and military conflict in the Middle East, and of tensions and disputes in political and global relations, on volatility in world financial markets, on general economic conditions and GDP in the U.S. and worldwide and on Moody's own operations and personnel; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, increased utilization of technologies that have the potential to intensify competition and accelerate disruption and disintermediation in the financial services industry, as well as the number of issuances of securities without ratings or securities which are rated or evaluated by non-traditional parties; the level of merger and acquisition activity in the U.S. and abroad; the impact of MIS's withdrawal of its credit ratings on countries or entities within countries and of Moody's no longer conducting commercial operations in countries where political instability warrants such actions; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction or development of competing and/or emerging technologies and products; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the jurisdictions in which we operate, including the EU; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which Moody's may be subject from time to time; provisions in U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to CRAs in a manner adverse to CRAs; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; uncertainty regarding the future relationship between the U.S. and China; the possible loss of key employees and the impact of the global labor environment; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the timing and effectiveness of our restructuring programs; currency and foreign exchange volatility; the outcome of any review by tax authorities of Moody's global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if Moody's fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which Moody's operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions, or other business combinations and the ability of Moody's to successfully integrate acquired businesses; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions, corporate or government entities. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody's actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under 'Risk Factors' in Part I, Item 1A of Moody's annual report on Form 10-K for the year ended December 31, 2024, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company's actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company's business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it. Forward-looking and other statements in this document may also address our corporate responsibility progress, plans, and goals (including sustainability and environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company's filings with the Securities and Exchange Commission. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Zawya
2 days ago
- Business
- Zawya
UAE among elite global economies with strong & stable sovereign ratings from the top three international credit rating agencies
The UAE is among the few countries worldwide with strong credit ratings from all three major international rating agencies Maktoum bin Mohammed: Confirmation of the strong sovereign rating reflects the strength of the UAE economy and the sustainability of its fiscal policies The UAE's strong ratings are the result of an integrated economic vision and effective government action Economic diversification and fiscal discipline reinforce international institutional confidence in the country Abu Dhabi - United Arab Emirates: The United Arab Emirates (UAE) Ministry of Finance announced that the world's top three credit rating agencies – Fitch Ratings (Fitch), S&P Global (S&P), and Moody's Investors Service (Moody's) – have assigned sovereign credit rating for the United Arab Emirates. This step reflects the continued international confidence in the strength of the UAE economy and the sustainability of its fiscal policies. S&P announced, on 17 June 2025, that it assigned the UAE's sovereign rating at 'AA' with a stable outlook. Moody's, in its annual review for 2025, affirmed the rating at 'Aa2' with a stable outlook. Fitch also affirmed the UAE's rating at 'AA-' with a stable outlook on 24 June 2025. This consensus by all three major global credit rating agencies highlights the UAE's advanced fiscal standing and strengthens its position among the few countries globally with strong sovereign credit ratings from all three top agencies. Integrated Government Performance On this occasion, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, said: 'The affirmation of the UAE's strong sovereign rating by the world's top three international credit rating agencies, and their consensus on a stable outlook, reflects the deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies. This is the result of a comprehensive economic vision led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE (may God protect him), and closely followed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai (may God preserve him).' His Highness affirmed that the UAE continues to implement economic policies grounded in diversification, transparency, and fiscal discipline, with a strong focus on increasing non-oil revenues and achieving financial sustainability. This reflects the integrated performance of government entities and long-term strategic planning, which continue to reinforce the UAE's position as a flexible and credible global economic hub. He added: 'At the Ministry of Finance, we remain committed to working closely with all government entities to enhance the efficiency of resource management, develop productive sectors, and improve the country's investment appeal. The development of the sovereign yield curve for the dirham was a major milestone in enhancing market transparency, providing investors with a reliable benchmark for pricing dirham-denominated debt instruments. This strengthens the UAE's presence on the global economic map and reinforces its ability to confidently navigate regional and international changes and challenges — by expanding the investor base and enhancing the country's reputation as a reliable and attractive destination in global capital markets.' Sustainable Growth The ratings confirm the UAE's ability to diversify and boost non-oil revenues, maintain sound fiscal discipline, manage risks effectively, and uphold prudent fiscal policies. All of these factors have contributed positively to economic stability and sustained growth across various sectors. S&P's report reflects the agency's assessment of the UAE's strong financial position, in addition to the strength of the government's consolidated sovereign assets. The agency expects that regional geopolitical tensions will, overall, have a limited impact on the UAE, given the country's large sovereign wealth and track record of internal stability. Moody's report highlights the UAE government's continued efforts to expand and diversify non-oil revenue sources, support the development of non-oil sectors, and enhance the country's appeal to foreign investors and skilled talent. Despite persistent geopolitical tensions in the region, the UAE's effective policy frameworks help mitigate these challenges through advancing economic diversification. Fitch's report noted the elevated geopolitical risks in the region, while affirming the UAE's strong ability to withstand short-term disruptions, supported by its substantial fiscal and external buffers. This achievement is yet another testament to the UAE's continued success in striking a balance between fiscal stability and economic growth. It further reinforces international investor confidence and affirms the UAE's status as a secure and stable destination for business and investment.
Gulf Business
2 days ago
- Business
- Gulf Business
UAE secures top sovereign credit ratings from major agencies
The UAE has received strong sovereign credit ratings from Fitch Ratings, S&P Global, and Moody's Investors Service, reflecting international confidence in its economic strength and fiscal policies, according to the state news agency WAM. S&P Global assigned the UAE a sovereign rating of 'AA' with a stable outlook on June 17. Moody's, in its annual review for 2025, affirmed the rating at 'Aa2' with a stable outlook. This consensus from all three major global credit rating agencies underscores the UAE's robust fiscal standing, positioning it among a select group of countries globally with strong sovereign credit ratings across the board. According to the report, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stated that the ratings affirm 'deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies.' He attributed this to a comprehensive economic vision led by UAE President Sheikh Mohamed bin Zayed Al Nahyan and supported by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai. Sheikh Maktoum reaffirmed the UAE's commitment to implementing economic policies focused on diversification, transparency, and fiscal discipline, with an emphasis on increasing non-oil revenues and achieving financial sustainability. He noted that this reflects the integrated performance of government entities and long-term strategic planning, reinforcing the UAE's position as a flexible and credible global economic hub. He added that the Ministry of Finance remains committed to collaborating with government entities to enhance resource management efficiency, develop productive sectors, and improve the country's investment appeal. The development of the sovereign yield curve for the UAE dirham was highlighted as a significant milestone, enhancing market transparency and providing a reliable benchmark for pricing dirham-denominated debt instruments. This, he stated, strengthens the UAE's global economic presence and its ability to navigate regional and international challenges by expanding the investor base and enhancing its reputation as a reliable and attractive destination in global capital markets. Ratings confirm UAE's ability to diversify and drive non-oil sectors The ratings confirm the UAE's capacity to diversify and boost non-oil revenues, maintain sound fiscal discipline, manage risks effectively, and uphold prudent fiscal policies. These factors have positively contributed to economic stability and sustained growth across various sectors. S&P's report specifically cited the UAE's strong financial position and the strength of the government's consolidated sovereign assets. The agency anticipates that regional geopolitical tensions will have a limited overall impact on the UAE, citing the country's substantial sovereign wealth and consistent internal stability. Moody's report underscored the UAE government's ongoing efforts to expand and diversify non-oil revenue sources, support the development of non-oil sectors, and enhance the country's attractiveness to foreign investors and skilled talent. Despite persistent regional geopolitical tensions, the report noted that the UAE's effective policy frameworks help mitigate these challenges through ongoing economic diversification. Fitch's report, while acknowledging elevated geopolitical risks in the region, affirmed the This achievement serves as further evidence of the UAE's continued success in balancing fiscal stability with economic growth, reinforcing international investor confidence and affirming the UAE's status as a secure and stable destination for business and investment.
