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Fitch revises outlook on 3 energy companies on Colombia's negative outlook

Fitch Ratings on May 26 revised its outlook on Ecopetrol SA, Oleoducto Central SA, or OCENSA, and AI Candelaria (Spain) SL to negative from stable.

The rating agency affirmed Ecopetrol and OCENSA's long-term currency and foreign currency issuer default rating at BBB and AI Candelaria (Spain)'s ratings at BBB-.

Fitch said the change reflected the recent revision of Colombia's ratings outlook to negative. These companies can be negatively affected by a downgrade of the nation's sovereign ratings.

Colombia-based Ecopetrol is an integrated oil and gas company engaged in exploration, production, transport and refining. OCENSA, also based in Colombia, is a crude oil transportation business. Madrid-based AI Candelaria (Spain) is a holding company that owns interests in OCENSA.