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As it withdrew ratings due to the early payoff of all outstanding debt, Fitch recognized Tecnoglass' competitive cost structure, above-average growth profile supported by its solid order backlog, long-term relationships with customers and robust demand for its products.

Latin America could continue to benefit from re-shoring as the U.S. seeks to reduce its businesses reliance on Chinese suppliers. China’s own economic recovery will be a significant determinant of commodity prices.

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.

The negative outlook reflects downside risks to the economic growth outlook and uncertainties about the capacity of the government's policy response to decisively cut deficits and stabilize and eventually lower debt in the coming years, following the sharp rise in general...

The rating agency highlighted Ecopetrol's liquidity profile, supported by its cash generation, strong access to capital markets and adequate debt maturity profile.

Fitch estimates 2021 and 2022 revenues and EBITDA to be approximately 9% less than prior estimates, given lower overall demand due to the economic downturn. Post-pandemic capex is expected to follow similar trends in 2020, but increase by 9% in 2021 and 15% in 2022.

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,...

Bancolombia announced an agreement to acquire full ownership of GAH. Under the agreement, Bancolombia will buy the remaining 40% stake in GAH that it currently does not own. This transaction was approved by the Colombian, Panamanian, Guatemalan, and Barbados regulators.

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...

Adding to the turmoil at EPM (Empresas Públicas de Medellín) since Medellín’s mayor Daniel Quintero took office and appointed CEO Álvaro Guillermo Rendón (above photo), the utility’s primary labor union SINPRO has issued a public demand for information on Rendón’s alleged...