July 5, 2021 |
The bond market reacted with little surprise after Fitch Ratings cut Colombia to junk status, even though the country has fallen from investment-grade indexes, analysts told LatinFinance on Friday.
Fitch downgraded Colombia by one notch to BB+ from BBB- on Thursday, following the lead from S&P Global Ratings six weeks earlier. Fitch said the downgrade reflected "the deterioration of the public finances with large fiscal deficits in 2020-2022, rising government debt level, and reduced confide
Sovereign issuer's bond prices remain stable as Fitch joins S&P in cutting the country to junk status