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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.

Air-E, serving 1.2 million users in Colombia's Caribbean coastal region, is now under government intervention due to financial instability and high losses.

Each was scrutinized in 10 categories, including internal controls, accounting records, and compliance programs.