Government of Colombia: Economy stumbled into 2024, complicating compliance with fiscal rule target

Government of Colombia Baa2 negative: Update following change in outlook to negative - Credit Opinion – 2024/06/28 – 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 and a rigid expenditure structure. The economy decelerated markedly in 2023 and will recover gradually in 2024. Inflationary pressures remain relatively high compared with regional peers, and funding conditions for the government present a challenge to debt affordability. Compliance with the fiscal rule will be key to support the stability of debt metrics....

Moody's Ratings changes Colombia's outlook to negative from stable; affirms Baa2 ratings - Rating Action – 2024/06/27 – 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:Economy stumbled into 2024, complicating compliance with fiscal rule target - Issuer Comment – 2024/03/01 – US$ 200.00 – ...Esta publicaci=n no anuncia una acci=n de calificaci=n crediticia. Para cualquier calificaci=n crediticia a la que se hace referencia en esta publicaci=n, vea la pßgina del emisor/ transacci=n en https://ratings.moodys.com para consultar la informaci=n de la acci=n de calificaci=n crediticia mßs actualizada y el historial de calificaci=n....

Government of Colombia Baa2 stable: Regular update - Credit Opinion – 2024/02/01 – 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 and a rigid expenditure structure. The economy decelerated markedly in 2023 and will recover gradually in 2024. Inflationary pressures remain relatively high compared with regional peers, and funding conditions for the government present a challenge to debt affordability. Compliance with the fiscal rule will be key to support the stability of debt metrics....

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....