S&P downgrades Colombia

S&P downgrades Colombia

Corporate & Sovereign Strategy Economy & Policy Colombia

S&P Global Ratings said it has downgraded Colombia to BBB- from BBB due to a combination of weaker-than-expected growth in 2017 and a partial reliance on one-off revenues this year. Colombia's reliance on one-off revenues, to offset the underperformance from its 2016 tax reform, demonstrated how difficult it was to reduce government deficits that comply with Colombia's fiscal rule. In a report published on Tuesday, S&P said Colombia’s economy continued to struggle because of low commodit

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