11:10 AM EDT, 03/12/2024 (MT Newswires) -- S&P Global Ratings on Monday affirmed Canacol Energy's ( CNNEF ) BB- issuer credit and issue-level ratings.

The stable outlook reflects the view that debt to EBITDA will remain between 2x and 3x for the next 12 to 18 months, benefiting from higher prices, as production rises, the rating agency said.

The company's shares rose 1.3% on last look on Tuesday.

Price: 5.44, Change: +0.07, Percent Change: +1.30