Tag

When taken in conjunction with the big decline in Consumer Confidence which was reported a fortnight ago, there are reasons for concern.

Fitch highlighted the company's linkage to the Republic of Colombia, which currently owns 88.5% of the voting shares, as well as the strategic importance of the company for the country.

With the culmination of the purchase of a controlling 51.4% stake in Interconexión Eléctrica ("ISA"), the quarterly figures include the consolidated results of this subsidiary for one month.

The “line in the sand” fiscal rule has now gone but due to the measures taken there is the hope that the deficit will drop from the anticipated 8.6% in 2021 to 2.7% in 2026.

S&P left Ecopetrol's individual standalone credit rating at 'bbb- ' with stable outlook, the company announced last week, after its acquisition of electrical grid operator ISA.

Colombia's "Comité Nacional de Paro," a coalition of labor unions and syndicalist groups has called for national strikes in Colombia for the 2nd time this year, after the government released a revised fiscal package.

The fire reduces the facility’s output from 393 megawatts to 246 megawatts until repairs can be made. EPM reports that there were no injuries, and the cause of the fire is under investigation.

Colombian oil producer Ecopetrol has signed an agreement to purchase the Ministry of Finance & Public Credit's (Minhacienda) share of electrical grid operator Interconectado Eléctrica SA, or ISA.

The sovereign downgrade reflects the deterioration of the public finances with large fiscal deficits in 2020-2022, a rising government debt level, and reduced confidence around the capacity of the government to credibly place debt on a downward path in the coming years.

Monday saw the latest surveys released by Fedesarrollo - the Financial Opinion Survey (FOS) & Stock Market Confidence Indices (SMCI) - for the month of June. The overall confidence number stands at 96.97% which is up 5.1% from May - breaking that down we see other improvements.