NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed Black Gold Re LTD’s (BGRe) ‘BBB’ Insurer Financial Strength (IFS) rating. The Rating Outlook is Negative. KEY RATING DRIVERS Keeping with Fitch’s methodology for rating core captive reinsurance companies, BGRe’s rating is in line with that of its parent, Ecopetrol S.A. Ecopetrol has a National Long-Term Local Currency Rating of ‘AAA(col)’ and an International Local Currency Rating of ‘BBB’/Negative Outlook, aligned to Colombia’s sovereign ra
