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With Government Loan In Doubt, Avianca Secures Additional DIP Financing

Avianca says it has raised $2 billion of DIP financing, including new loans and refinancing of existing notes, despite the blockage of a $370 million USD bailout loan from the Colombian government.

Posted On September 22, 2020

, By Loren Moss

The above IHME map shows the mean value (across the 1,000 regressions that IHME runs in its SEIR model) of effective reproductive number, R, on June 9. Infections on June 9 roughly correspond to cases of COVID-19 on June 20 given the average duration of 11 days between infection and being reported as a case. Where this value is greater than 1, it means that every person infected with COVID-19 will produce more than one additional infected person. To successfully eliminate a disease from a population, R needs to be less than 1. The map shows that on June 9 in many parts of the world, R was lower than 1, including many parts of North America, Europe, Africa, India, Australia, and New Zealand. Locations that are showing effective R values greater than 1, which means that the number of cases of COVID-19 in the population is growing, include several states in India, the US, Mexico, and Brazil, as well as many countries in the Southern Hemisphere, such as Argentina, Chile, and Indonesia. Several countries in the Middle East, including Egypt, Saudi Arabia, Iraq, and Yemen, as well as Turkey and Iran, also had R values greater than 1 as recently as two weeks ago.

Up To 81,942 May Die In Colombia From COVID-19 Says University of Washington Institute

The Institute for Health Metrics and Evaluation (IHME) at the University of Washington is forecasting nearly 388,300 people will die from COVID-19 in Latin American and Caribbean nations by October 1. Brazil is expected to exceed 166,000 deaths and Mexico 88,000. Six other...

Posted On June 29, 2020

, By Loren Moss

Guest Editorial: Coronavirus & Democracy In Latin America

It is curious how the Latin American giants Brazil & Mexico, with active representative democracies, have minimized the Coronavirus COVID-19 Pandemic as a minor flu. They may yet face serious consequences.

Posted On April 27, 2020

, By Sergio Escobar

No Joke: Colombian Gang Called “The Swiss” Busted For Smuggling 100 Tons of Cheese

Colombian authorities dismantled a criminal organization in Arauca known as “Los Suizos” (translates to "The Swiss") that had smuggled about 100 tons of cheese across the border.

Posted On March 8, 2020

, By Insight Crime

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Álvaro Guillermo Rendón López Is Installed as New Head of EPM

Medellín’s new mayor Daniel Quintero appointed attorney Álvaro Guillermo Rendón López as the new general manager of Colombia’s largest utility company Empresas Públicas de Medellín, or EPM. Rendón was installed on January 2, replacing outgoing engineer Jorgé Londoño De La Cuesta,...

Posted On January 13, 2020

, By Loren Moss

One of Avianca new 787s at Medellin's Airport

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Standard & Poor’s Upgrades Avianca Holdings To ‘B-‘ From ‘SD’ & LifeMiles To ‘B+’ From ‘B-‘ On Debt Restructuring Completion

S&P Global Ratings last week raised its issuer credit rating to ‘B-‘ from ‘SD’ and its issue-level rating on the 9% senior secured notes due 2023 to ‘B-‘ from ‘CCC-‘ and the 8.375% senior unsecured notes due 2020 to...

Posted On December 28, 2019

, By Loren Moss

Invenergy Woodville Solar Farm, photo courtesy Invenergy

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EPM Signs Renewable Energy Deal With Chicago-Based Invenergy For 500MW By 2025

Chicago based Invenergy, a privately held company that develops and operates sustainable energy solutions, Monday announced that it has executed a strategic partnership agreement with Empresas Publicas de Medellin (EPM) to develop, build, and operate large-scale wind and solar...

Posted On December 4, 2019

, By Loren Moss

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Colombia Leads The Global Financial Inclusion Microscope For 2nd Straight Year

Colombia, Peru, Uruguay and Mexico lead the ranking of the Global Microscope on the environment for financial inclusion, an index that focuses on regulation, political strategies, and infrastructure to address this issue. In these four countries, financial inclusion is a...

Posted On November 5, 2019

, By Loren Moss

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Avianca in SEC Filing: “We Are Currently In Payment Default”

Avianca: "Our business may not succeed even if the Re-profiling Plan is successful and the Stakeholder Investment is consummated."

Posted On September 3, 2019

, By Loren Moss

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Moody’s Downgrades Lifemiles Loyalty Program To B2

Moody’s Investors Service last week downgraded to B2 from Ba2 LifeMiles Ltd.’s corporate family and senior secured ratings. The outlook has been revised to negative from stable. LifeMiles, Ltd. is a coalition loyalty, program and the sole operator of Avianca...

Posted On August 5, 2019

, By Loren Moss