S&P cuts Colombia to junk status

S&P cuts Colombia to junk status

Corporate & Sovereign Strategy Credit Ratings S&P Global Bonds Debt Fixed Income Colombia Capital Markets

S&P Global Rating said it downgraded Colombia's long-term foreign currency rating to BB+ from BBB- on Wednesday, cutting the sovereign issuer to junk status on "persistent fiscal weakness." The downgrade took place two weeks after the Colombian government of Colombia withdrew a proposed tax reform bill amid protests in many cities across the country. "We believe Colombia's fiscal adjustment will prove to be more protracted and gradual than previously expected, diminishing the likelihood of r

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