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Fitch Ratings Predicts Avianca, Digicel & Odebrect Will Be Unable To Repay Debt Due This Year

In a new report, Fitch Ratings said that it expects a combined $202 million USD in debt due this year and owed by Avianca, Odebrecht and Digicel will not be repaid by the issuers.

Posted On March 31, 2020

, By Loren Moss

Breaking News: Mandatory National Curfew In Colombia Until April 13

Colombia’s President Ivan Duque Márquez announced late last night that even though municipal curfews were due to expire Tuesday morning, the national government has declared a national 24 hour curfew beginning Tuesday at midnight until midnight, April 13 in order to retard the...

Posted On March 21, 2020

, By Loren Moss

3rd Annual Private Equity Congress of The Pacific Alliance was

Colombia’s Private Equity Trade Association ColCapital Hosts Full Conference Despite Coronavirus Fears

Despite travel fears, ColCapital's Private Equity Congress of The Pacific Alliance was at capacity attendance last week, taking place in Bogotá's Club El Nogal.

Posted On March 9, 2020

, By Loren Moss

map-of-the-world (Image credit: Yuri_B / Pixabay)

Korean Re Approved To Begin Operations In Colombia

Korean Reinsurance Company has obtained approval from Colombian regulators to open a representative office in Bogota.

Posted On February 27, 2020

, By Loren Moss

Photo: Cayo Cangrejo, off the islands of San Andrés and Providencia in the Caribbean, is one of many tropical paradises in Colombia. (Credit: Roberto San Andrés)

Colombia’s Insurance Industry “Stable” According To AM Best

AM Best is maintaining its stable market segment outlook on Colombia’s insurance industry, citing Colombia’s favorable economy, strong capital positions among carriers and adequate regulation. The new Best’s Market Segment Report, titled, “Market Segment Outlook: Colombia...

Posted On February 26, 2020

, By Loren Moss

first data bancolombia colombia (Photo credit: Jared Wade)

Bancolombia’s Senior Unsecured Notes Due 2025 Rated BBB By Fitch

Fitch Ratings has assigned a 'BBB' rating to Bancolombia's (NYSE: CIB) upcoming US dollar denominated senior unsecured notes. The global notes for $950 million dollars are due in 2025.

Posted On February 8, 2020

, By Loren Moss

MAPFRE Insurance Signs Deal With Banco Pichincha For Voluntary Insurance

Spanish insurer MAPFRE has entered into a strategic alliance with Banco Pichincha in Colombia to offer insurance products to the bank's customers.

Posted On January 27, 2020

, By Loren Moss

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Bancolombia’s Proposed Tier 2 Subordinated Notes Rated Ba3(hyb) By Moody’s

Moody’s Investors Service has assigned a Ba3(hyb) rating to the proposed US Dollar-denominated contractual non-viability Tier 2 subordinated notes to be issued by Bancolombia S.A. (NYSE:CIB) of Medellín, Colombia. The notes will be due in 2029. The capital securities are...

Posted On December 22, 2019

, By Loren Moss

banco de bogota banco de bogotá bancolombia colombia

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Grupo Aval’s Banco de Bogotá To Buy Panamá’s Multi Financial Group; Moody’s Says Outlook Remains Negative

Banco de Bogotá has reached an agreement with Multi Financial Group (MFG), Panama’s eighth largest banking group by assets, to acquire 100% of its common capital for about $730 million dollars in an all-cash transaction. The proposed acquisition will add $5 billion to Banco...

Posted On November 18, 2019

, By Loren Moss

Ignacio Garralda is the chairman of Spanish insurer Mutua Madrileña

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Mutua Madrileña Takes 45% Stake In Colombia’s Seguros Del Estado

Spain’s Mutua Madrileña insurance company has purchased 45% of Colombia’s Seguros del Estado, a private insurance company operating in Colombia. Seguros del Estado claims the #2 ranking in property and casualty insurance in Colombia. Mutua Madrileña also acquired an option to...

Posted On November 18, 2019

, By Loren Moss