...On 11 August, Empresas Publicas de Medellin E.S.P. (EPM, Baa3 negative) announced the filing with the civil courts of the Department of Antiochia, a request for an out-of-court conciliation process with the consortium responsible for the construction of the Ituango dam and their insurance providers. Through such process, EPM seeks to recover damages incurred on the 2018 Ituango dam incident for approximately $2.6 billion. In April 2018, falling rock and soil blocked a tunnel and disrupted the downstream flow of water from Colombia's (Baa2 stable) Cauca River through the Ituango dam. The company, together with advisors and suppliers, continues to work on safety measures and the advance of construction. The announcement is credit negative as it increases the risk of further delays and cost overruns to complete the Ituango dam, depending on how the consortium responds. That same day, EPM also announced the resignation of eight of its nine-member board of directors. The mayor of the City of...