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.
Further reductions to our growth forecasts for Chile (A/Negative) and Colombia (BBB-/Negative) due to the coronavirus pandemic will mean faster increases in budget deficits and public debt this year, Fitch Ratings says. The ability to develop credible medium-term plans to reverse...
Despite the drop — from 57th in 2017 to 60th this year — Colombia's overall score in the Global Competitiveness Report actually increasing by 0.1 points to 61.6.