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Los Andes jumped from 10th to 5th since last year, helping to put Colombia in the TACTICS group of nations that are "most likely to become future higher education stars."

The recertification formally authorizes the level of standards and availability offered at the company’s data center in Bogotá.

While the rest of Latin America is going one way, Colombia is still lagging behind. Only Ecuador, with a 6.1% drop in the first quarter, performed worse.

Best known in Colombia for its Jumbo brand of hypermarkets, the company's large regional presence highlights its financial stability.

"The next administrations in both Chile and Colombia will face challenges to achieving fiscal consolidation," said Fitch.

Up to 15 fintech companies will enter a three-month training and capital-raising program. The two highest-performing startups will receive at least $75,000 USD in funding.

After Brazil (51% negative) and Colombia (20%), Fitch Ratings has assigned negative outlooks to 19% of corporates in Chile, 12% in Peru, 9% in Mexico, and 6% in Argentina.

"Corporates have been negatively affected by elevated interest rates in several countries and rising taxes," said Paula Bunn of Fitch Ratings.

The Tier III-certified data center was built by Bogotá-based ZFB Group and will be located within the capital’s ZF Towers Services and Technology Park.

Four beef producers have already been approved to start shipping their products to Chile, which imports some $800 million USD of meat per year.