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Ecopetrol is suffering from deteriorating corporate governance while the petroleum giant is led by Colombian President Gustavo Petro's political campaign manager.

Moody's changed to negative, from stable, the outlook on Bancolombia's ratings, while it maintained the negative rating outlook on Banco de Bogota and Davivienda. These actions follow the change in outlook to negative, from stable, on the Government of Colombia's Baa2 government...

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...

Moody’s Investors Service announced yesterday that it has downgraded Colombia’s government controlled petroleum company Ecopetrol’s senior unsecured ratings to Baa3 from Baa2. At the same time, the company’s BCA (Baseline Credit Assessment) was lowered to ba3 from...