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S&P made no changes but suggested it could downgrade Colombia's sovereign rating if the country's fiscal debt burden does not improve within the next 18 months.

The mayor is seeking to raise up to $1.4 billion USD for new infrastructure, especially highways and a regional train.

Mayor Enrique Penãlosa wants to raise some $1.35 billion USD for transportation projects, but he is facing strong opposition from labor and the Social Party of National Unity.

Colombian petroleum company Ecopetrol (BVC:ECOPETROL, NYSE:EC, TSX:ECP) announced Friday that it opened a $175 million USD ($578 billion COP) line of credit with The Bank of Tokyo-Mitsubishi UFJ,Ltd. (NYSE:MUFG, TSE:MUFG) The loan was approved by Minhacienda, Colombia’s finance...