Key facts
- Citigroup downgraded Ecopetrol.
- The downgrade is due to a partial repricing of political risk.
- This reflects a reassessment of the company's valuation amid political uncertainties.
Citigroup has downgraded Ecopetrol, citing a partial repricing of political risk. The decision reflects a reassessment of the Colombian state-controlled oil company's valuation in light of perceived political uncertainties. The move by Citigroup indicates a shift in how the market is valuing Ecopetrol given the current political landscape in Colombia.
