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GEB’s rating affirms stable cash flow, solid position, and liquidity, despite reliance on subsidiary dividends and high payout policy.

TGI is a natural gas transporter in Colombia with a 55% market share of transported volume.

Promigas's free cash flow (FCF) is expected to remain negative in the short and medium term, continuing a five-year trend of structurally negative FCF.

The action followed the recent revision of Colombia's sovereign outlook to negative.

A positive rating action for GEB is unlikely in the near to medium term due to anticipated EBITDA pressures and potential capex increases.

Inflation seeks to be the highest in Colombia since 1999 based on DANE statistics.

Citigroup said in a statement that the confusion sends the wrong message and challenges board independence.

A Colombian government delegation was in Washington this week meeting with IMF, World Bank and US officials.

The Peso closed Friday at $4622 close to record lows after Thursday President Petro made mention of taxing "hot money."

Sectorially, financials (94.1%) are the top pick followed by Energy (82.4%), while oil has dropped away to 35.3%.