Fitch: Colombian Subnationals Outlook for 2016 Remains Stable

BOGOTA, Colombia--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: 2016 Outlook: Colombian Subnationals (Remaining Stable)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=875379

Fitch Ratings expects Colombian Subnationals to remain stable during 2016, despite the current slowdown of economic activity, according to a new report published today.

Fitch recognizes 2016 will face the normal slowdown at the local and regional economies. The newly elected governments, taking office from January 2016, will spend the first half of year preparing and seeking approval of their Local Development Plans.

Fitch also expects not only sluggish collection of local taxes linked to industry, commerce and consumption activities during 2016, but also moderate debt growth. Fitch does not expect major changes in local and regional governments (LRGs) ratings in the near future, but will monitor the evolution of the industrial and construction sectors, as lower-than-expected results could create additional problems for LRGs.

The full report '2016 Outlook: Colombian Subnationals' is available at 'www.fitchratings.com' or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151216006386/en/

Fitch Ratings Colombia
Carlos Vicente Ramirez, +57 1 326-9999 ext. 1240
Senior Director
[email protected]
Calle 69A No. 9 -85, Bogota, Colombia
or
Andrea Duarte, +57 1 326-9999 ext. 1750
Analyst
[email protected]
or
Natalia Gallego, +57 1 326-9999 ext. 1022
Analyst
[email protected]
or
Media Relations, New York
Elizabeth Fogerty, +1-212-908-0526
[email protected]

Source: Fitch Ratings

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