S&P reaffirms the international rating of investment grade for Ecopetrol S.A.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby announces that the rating agency Standard & Poor's (S&P) maintained the company´s investment grade at BBB.

Within the report, S&P mentioned the Company's leading position in Colombia, its low lifting cost, and its basis of proven reserves. S&P also highlighted the greater operating efficiencies achieved by Ecopetrol through its austerity plan and cost-cutting measures, as well as its focus on profitable barrels.

In its report, the agency kept the Company's negative outlook, considering the impact that volatility in crude oil prices might have on its financial metrics, and in line with the current Outlook for the Republic of Colombia (BBB, negative outlook).

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