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Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) announced today in a 6K filing with the United States Securities & Exchange Commission (SEC) that the New York Stock Exchange (NYSE) has suspended trading in the Company’s American Depositary Shares, each representing eight...

Finance Colombia arranged a meeting with key analysts with Standard & Poor to understand how this might play out for LATAM and Avianca, the two full service carriers that operate domestic routes in Colombia.

S&P Global Ratings last week raised its issuer credit rating to ‘B-‘ from ‘SD’ and its issue-level rating on the 9% senior secured notes due 2023 to ‘B-‘ from ‘CCC-‘ and the 8.375% senior unsecured notes due 2020 to...

Toronto based upstream petroleum producer Frontera Energy Corporation (TSX: FEC) announced today that the company will be added to the Standard & Poor’s TSX Composite Index, effective prior to the open of trading on Monday, June 24, 2019. The Frontera is also being added to...

Last week United Airlines (NASDAQ: UAL) moved to remove longtime chairman and controlling shareholder Germán Efromovich from Avianca’s (NYSE: AVH) (BVC: PFAVH), board of directors. Adding insult to injury, United installed Roberto Kriete as the board’s new chairman. All this...

According to Standard & Poor’s, Avianca Holding’s plans to refinance its $550 million (USD) senior unsecured notes has taken longer than expected, given several reasons. These include delays to clear certain contractual proceedings with Avianca’s shareholders...

Though the rating is unchanged from the New York agency’s previous assessment, the status quo represents positive news for a country where economic growth has slowed.

S&P highlighted Colombia’s “diminished policy flexibility” due to “weakened fiscal and external profiles” in its analysis following the move.

“Colombia's creditworthiness could be pressured” if low growth persists and high fiscal deficits undermine the government’s push to reduce debt.

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.