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The strong U.S. dollar, Colombian peso (COP) depreciation and slow growth in Latin American economies are not expected to be serious threats to the credit strengths of Colombia’s largest private banks, says Fitch Ratings. In a strong dollar environment, Colombia’s...

The utility Grupo EPM (Empresas Públicas de Medellín), owned by the municipal government of Colombia’s second largest city, has reached an agreement to purchase the water utility Aguas de Antofagasta, S.A. (ADASA)  in Chile, subject to Chile’s Empresa Concesionaria de Servicios...

Fitch Ratings has issued the following statement this morning regarding the credit outlook of Avianca Holdings. Fitch Ratings has affirmed the ratings of Avianca Holdings S.A.’s (Avianca Holdings) and its subsidiaries as follows: Avianca Holdings S.A. (Avianca Holdings)...

Consistent with Fitch Ratings’ belief that a major acquisition by Empresa de Energia de Bogota S.A. E.S.P.’s (EEB) is unlikely in the near to medium term, the company publicly declared it will not be participating in the republic of Colombia’s attempted sale of...

The introduction of IFRS reporting in 2015 for Colombian banks is an improvement in financial disclosure, says Fitch Ratings. A majority of IFRS rules became effective for all Colombian financial institutions on Jan. 1, 2015 and introduced material changes in the treatment of...

Fitch Ratings has affirmed Empresa de Telecomunicaciones de Bogota S.A. E.S.P.’s (ETB) ratings as BBB- regarding Long-term foreign and local currency Issuer Default Ratings (IDRs). ETB has COP 530 billion senior notes due 2023 at ‘BBB-‘, and the agency has...

The Japanese rating agency Rating and Investment Inc. (R & I) has upgraded Colombia’s long-term debt rating from BBB- to BBB with a stable outlook. R & I confirmed its confidence in the country’s economic stability in recent years, noting that Colombia recorded real GDP...

Fitch Ratings announced this week that the US based ratings firm expects that favorable financing conditions and projected GDP growth of 3.5% for 2015 bode well for mergers and acquisitions (M&A) activity in the Colombian corporate sector. ‘Colombia has become a vibrant...

Fitch Ratings this week announced a stable outlook for the Colombian insurance industry today. The stable sector outlook reflects Fitch’s expectation that the key credit metrics of the Colombian insurance sector will remain broadly stable and the industry will manage to...

The ratings firm Fitch reaffirmed its opinion on Medellin’s creditworthiness in a release issued today. Edited excerpts follow: According to Fitch, the rating actions are the result of the city’s relevant role in the Colombian economy; sound, albeit declining,...