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Fitch Ratings has downgraded Colombia's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'BBB-' from 'BBB'. The Rating Outlook remains Negative.

Colombia’s Constitutional Court invalidated several articles of the President Ivan Duque’s “Ley de Financiamiento” fiscal reform law that was approved at the end of 2018 declaring them unenforceable. This means that the government has until January 1 2020 to return to...