Moody’s changes Colombia’s outlook to negative from stable, affirms Baa2 ratings

Moody’s Investors Service has today changed the outlook on the Government of Colombia to negative from stable. Concurrently, Moody’s has affirmed Colombia’s long-term local and foreign-currency issuer and senior unsecured debt ratings at Baa2 and foreign-currency shelf senior unsecured ratings at (P)Baa2. The short-term local and foreign-currency issuer ratings were also affirmed at Prime-2 (P-2). Following a sharp deterioration in debt metrics in 2020, Moody’s expects that fiscal adjustment will start in earnest in 2022 with results contingent upon a tax reform that will be discussed in 2021.

Source: Moody´s