Codensa’s net profit up by 20%

The energy distributor Enel-Codensa's net profit increased by 20% in the first quarter of 2021, compared to the same period last year. It reached a net profit of $62 million (Co$ 230,639 billion). Its operating also increased by 3.7% to $392 million (Co$ 1.46 trillion). These results are correlated to the recent increase in the base of assets approved by the national government in 2020, informed Enel-Condensa.

Hotel occupancy increased to 32% in March

In Colombia, the hotel occupancy rate increased to 32.25% in March 2021, 6,8 percentage points higher same month last year (28.40%), revealed the national association of hotels (Cotelco). Although this is still low, it represents an improvement as the occupancy rate reached a minimum historical low of 2% last year due to the covid-19 outbreak, … Continue reading Hotel occupancy increased to 32% in March

Colombian’s sovereign bond spread widens by 20%

Colombia’s dollar bonds are being priced as though they were already junk as investors bet that the government will fail to raise taxes enough for the country to cling onto its investment-grade credit rating. With investors pricing in a high likelihood of a ratings downgrade, the country’s average sovereign bond spread has widened by 20 … Continue reading Colombian’s sovereign bond spread widens by 20%