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S&P Affirm Rating at BBB- Outlook Negative

COLOMBIA
  • S&P affirmed Colombia's long-term foreign currency debt rating at BBB-, the lowest investment grade score, while the outlook remains negative.
    • "We expect the tax reform package that the government recently presented to Congress will pass, but considerable uncertainty remains about its final contents, given the likelihood of amendments made by legislators"
    • The report did include that the rating could be downgraded if recent weakening in public finances is not contained and reversed.
  • Colombia's capital, Bogota, will implement a lockdown over the weekend.

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