Finance Colombia

Inauguracion Festival de las Luces Parque Norte Medellin. Noviembre 13 de 2014. Fotografias Camara Lucida.

Fitch Rates Medellin At bbb+ But Capped By Colombia Sovereign BBB- Rating

The affirmation reflects Fitch's expectations that Medellin will maintain an adequate operating performance and manageable debt levels in spite of the economic impact of the coronavirus pandemic.

Posted OnJanuary 21, 2021

, ByLoren Moss

EPM’s Hidroituango Mediation Talks With Contractors Collapse, Warring Lawsuits Filed

While EPM seeks a litigation jurisdiction of Antioquia Administrative court, the consortium is countersuing in an international court, away from potential political influence in Antioquia’s capital of Medellín.

Posted OnJanuary 18, 2021

, ByLoren Moss

Turbine Replacement Begins At EPM’s Hidroituango Dam

After manufacturing, the units had to be shipped from Santos, Brazil to Colombian ports in the Caribbean, then deployed over roads as oversized cargo to the rural site of the Hidroituango hydroelectric dam in northern Antioquia.

Posted OnJanuary 18, 2021

, ByLoren Moss

Colombia’s Comptroller General Announces Charges Against Politicians & Board For Hidroituango Failures

According to the comptroller, these 28 individuals would be responsible for economic losses exceeding $400 million USD. Among those individuals are former EPM general managers Federico Restrepo and Juan Esteban Calle; former mayors of Medellín Anibal Gaviria & Fabio Salazar, and...

Posted OnDecember 8, 2020

, ByLoren Moss

EPM Appoints Blanca Liliana Ruíz Arroyave To Run Acquired Afinia Caribbean Electrical Utility

Ruíz has spent the last 24 years of her career at EPM, where she has held multiple posts including Director of Energy Regulation, and Executive Vice President of Business Management.

Posted OnNovember 30, 2020

, ByLoren Moss

Interview: EPM’s SINPRO Labor Union President Olga Lucia Arango Expresses Grave Concerns On Utility’s Leadership, Political Interference

Olga Lucia Arango, the president of EPM's largest labor union does not mince words when she expresses her union's concern over alleged mismanagement and political interference at the Medellín-based multinational utility operator. She has a message for the utility's bondholders,...

Posted OnOctober 8, 2020

, ByLoren Moss

New Details Emerge On How Medellín Mayor Daniel Quintero Provoked Ruta-N Board Walkout

The board of directors then asked for a meeting with the mayor at the end of July, which they did not get. In their regular board meeting, August 12, the board of directors again asked Quintero’s secretary of economic development, Alejandro Arias for a meeting with the mayor to...

Posted OnSeptember 3, 2020

, ByLoren Moss

Guest Editorial: Restore Confidence in Medellín

In recent weeks, the harmony of Medellin's governance with the city's civil society has been affected by a series of decisions originating from the Medellin mayor's office that interfere with the regulations and corporate governance of companies so emblematic of the city & the...

Posted OnSeptember 1, 2020

, BySergio Escobar

From Tomato-Thrower To Banana Republican, Can Medellin’s Mayor Daniel Quintero Learn Good Governance (Please?): Op-Ed

Only 8 months into his term as mayor of Medellín, tomato-throwing Daniel Quintero has managed to unite Paisas from labor unions to corporate giants against him.Multiple boards of directors have resigned, and Fitch has downgraded the city-owned utility's credit, citing 'governance...

Posted OnSeptember 1, 2020

, ByLoren Moss

EPM Announces Its New Board Of Directors – Light On Corporate Governance Experience

This new board the mayor was able to assemble is notable for not including anyone with deep corporate governance experience or a background running multibillion-dollar international enterprises like EPM. Several nominations with corporate experience by the mayor publicly rejected...

Posted OnAugust 26, 2020

, ByLoren Moss