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S&P cut Colombia’s rating to BB (negative outlook); Moody’s dropped it to Baa3 (stable), citing long-term fiscal concerns.

Colombia’s gas reserves have dropped to just 6 years, with new offshore finds promising relief but challenges remain.

The rating reflects the company's status as the main producer of oil and gas in Colombia, with approximately 60% of the country's production.

Ecopetrol is suffering from deteriorating corporate governance while the petroleum giant is led by Colombian President Gustavo Petro's political campaign manager.

The rambling report continues on an apparent fishing expedition and attempts to string together various histories and events in Barranquilla from between 10-20 years ago.

All three agencies said publicly many months ago that they were looking for the tax reform to right the fiscal ship which has been listing badly ever since COVID struck - to put it bluntly, the authorities have failed to deliver - and it is on them.

This past week most headlines have been so contaminated with politics it has been hard to find much else to discuss. Everyone who ever picked up a banner and marched in Colombia is a descendant of Vladimir Lenin and anyone who ever owned a business has modeled it on the Victorian...

The big question is what Fitch (BBB-) & Moody's (Baa2) chose to now do. Will they wait to see what is contained within 'Tax Reform II' when it is resubmitted? The issue is that there is little clarity on when that will be. Congress will shut down for the holidays in just over a...

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