Government of Colombia Baa2 stable: Regular update

Government of Colombia Baa2 stable: Annual credit analysis - Issuer In-Depth – 2023/07/10 – US$ 750.00 – ...The credit profile of Colombia balances a medium-sized and resilient economy, a history of predictable macroeconomic policies and a solid track record of servicing debt against relatively high commodity dependence, a comparatively narrow revenue base and an inflexible expenditure structure. Following a pandemic-induced deterioration, fiscal strength is gradually recovering, which keeps Colombia's overall credit profile aligned with that of its Baa2-rated peers. Colombia's favorable debt structure mitigates the risks stemming from a higher government debt burden. Additionally, the institutional framework operates as a system of checks and balances, supporting the quality of the country's institutions and governance. In particular, this framework effectively prevents changes in economic policy that would mark a break in Colombia's track record of prudent policymaking. However, the credit profile has become more susceptible to bouts of low investor confidence that can increase borrowing costs...

Government of Colombia Baa2 stable: Update following rating affirmation, outlook unchanged - Credit Opinion – 2023/06/09 – US$ 250.00 – ...Colombia's credit profile balances a history of predictable macroeconomic policies and a solid track record of servicing debt against relatively high commodity dependence, a comparatively narrow tax revenue base and a rigid expenditure structure. Despite the challenges presented by the coronavirus pandemic and rising social tensions, we project stable debt metrics in 2022-24....

Moody's affirms Colombia's Baa2 ratings; maintains stable outlook - Rating Action – 2023/06/08 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Government of Colombia Baa2 stable: Regular update - Credit Opinion – 2023/03/29 – US$ 250.00 – ...Colombia's credit profile balances a history of predictable macroeconomic policies and a solid track record of servicing debt against relatively high commodity dependence, a comparatively narrow tax revenue base and a rigid expenditure structure. Despite the challenges presented by the coronavirus pandemic and rising social tensions, we project stable debt metrics in 2022-24....

Government of Colombia Baa2 stable: Update following methodology update - Credit Opinion – 2022/12/07 – US$ 250.00 – ...[1] Current account receipts. [2] (Short-term external debt + currently maturing long-term external debt + total nonresident deposits over one year)/official foreign-exchange reserves. Source: Moody's Investors Service...

Government of Colombia Baa2 stable: Annual credit analysis - Issuer In-Depth – 2022/06/30 – US$ 750.00 – ...The credit profile of Colombia balances a moderately sized and resilient economy, a history of predictable macroeconomic policies and a solid track record of servicing debt against relatively high commodity dependence, a comparatively narrow revenue base and an inflexible expenditure structure. Fiscal strength deteriorated in 2020 because of the pandemic shock, putting Colombia in a weaker position than several of its Baa-rated peers. Colombia's favorable debt structure is a credit strength, which mitigates the risks stemming from a higher government debt burden. However, in the absence of significant fiscal consolidation in the coming years, government debt metrics are unlikely to improve significantly over the medium term, resulting in a weaker fiscal profile than that of peers with Baa2 ratings. We expect that fiscal and economic dynamics will support debt stabilization over the coming years. A key assumption is the continuation of prudent macroeconomic policies by the next government,...

Government of Colombia: President-elect's ability to balance social demands and fiscal consolidation will determine sovereign credit trajectory - Issuer Comment – 2022/06/23 – US$ 200.00 – ...*Others includes the 2 indigenous group Senators and 1 seat reserved for the presidential candidate that is the second most voted, which in this case is Rodolfo Hernandez Sources: Registraduria Nacional del Estado Civil and Moody's Investors Service *Others includes Liga Gobernantes Anti-Corrupcion, Nuevo Liberalismo, Coalicion Mira, indigenous Representatives, Afro-descendent Representatives, Peace Representatives, among others Sources: Registraduria Nacional del Estado Civil and Moody's Investors Service...

Government of Colombia Baa2 stable: Regular update - Credit Opinion – 2022/04/08 – US$ 250.00 – ...Colombia's credit profile balances a history of predictable macroeconomic policies and a solid track record of servicing debt against relatively high commodity dependence, a comparatively narrow tax revenue base and a rigid expenditure structure. Despite the challenges presented by the coronavirus pandemic and rising social tensions, we project stable debt metrics over the coming years....

Government of Colombia: Institutional checks will limit radical policy shifts after upcoming presidential election - Issuer Comment – 2022/03/16 – US$ 200.00 – ...Note: results as of 3.15.2022 with over 99% of the votes counted Sources: Registraduria Nacional del Estado Civil and Moody's Investors Service...

Government of Colombia: Preliminary 2021 data show accelerated fiscal consolidation and declining debt, a credit positive - Issuer Comment – 2022/02/09 – US$ 200.00 – ...On 4 February, Colombia's (Baa2 stable) Ministry of Finance published preliminary 2021 fiscal data showing a central government deficit...