Tag

"Banagrario's business model is consistent with its key role for the development of the government's agricultural policy,” stated Fitch Ratings.

Though the notes have a Baa1 rating with a stable outlook, Moody's has concerns over Sura's leverage, regional market volatility, and the immature capital markets of Latin America.

S&P made no changes but suggested it could downgrade Colombia's sovereign rating if the country's fiscal debt burden does not improve within the next 18 months.

“We have to wait for the results of the tax reform," analyst Richard Francis told Finance Colombia in New York.

Finance Minister Mauricio Cardenas says the overhaul "is a difficult measure that will require a large sacrifice of all Colombians — but it is necessary."