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After the entire board of directors resigned in protest of Medellín Mayor Daniel Quintero's usurpation of board prerogative and corporate governance, international ratings firm Fitch has downgraded EPM's credit rating, and placed it on a negative ratings watch.

Free webinar August 26: Hydropower of Latin America: implementation of HPPs construction and modernization projects 11 am Colombia time Organizer: Vostock Capital Website: https://www.latinamericahydrocongress.com/en/webinar

Just one day after the board of directors of Medellín utility EPM resigned in protest, Medellín technology incubator Ruta N’s entire board of directors, citing a lack of confidence in Quintero’s stewardship.

The board’s resignation left the utility’s CEO, Álvaro Guillermo Rendón trying to explain to the media and public why the entire board of directors resigning or the mayor’s actions are nothing to worry about.