IR correction rating of securities

Fitch Ratings – Bogota – Jan 28, 2021: This is a correction to the statement issued on December 2, 2020, whereby Fitch withdrew the ‘AA- (col)’ rating from the 2017 Bonds for COP400,000 million of Odinsa S.A. (Odinsa) due to the redemption and payment of the same.


Fitch clarifies that only the redemption of Series A3 was made for the value of COP279,250 million of the Issuance of Ordinary Bonds of 2017 by Odinsa and, consequently, informs that the revised valuation on July 1, 2020, of the 2017 Bonds for COP400,000 million is still in force and is ‘AA- (col)’.

Good Governance Codes

In compliance with the information disclosure duties, Odinsa S.A., informs the completion of the Report on the Implementation of Best Corporate Practices –Country Code corresponding to the year 2020, information filed with number 4094390 of January 27, 2021.


This Report may be consulted on our website (www.odinsa.com) and on the website of the Financial Superintendence of Colombia (www.superfinanciera.gov.co).

Granting of guarantees, sureties, guarantees in favor of third parties

Odinsa S.A. informs that today, its Board of Directors authorized to renew for the year 2021 the guarantee with which guarantees credits of the Farallones Consortium up to sixty billion pesos (COP 60,000,000,000), with the aim of covering the capital needs of work presented in said consortium during this year and to complete the activities of the Construction Phase of the highway concession project called Autopista Conexion Pacífico 2, which is executed by Concesión La Pintada SAS.

The Pacific Connection 2 Highway project is made up of 5 functional units (FUs) and is currently 97.84% complete. This is how FU 1 and FU 5 have already been delivered to the National Infrastructure Agency (ANI) as granting entity, FU2 and FU3 are in the process of delivery, and FU4 is estimated to be completed and will be delivered in April of this year.

Odinsa has a 50% stake in the Farallones Consortium, which has been carrying out the activities corresponding to the Construction Phase of the Pacific Connection 2 Highway project under the most demanding environmental, social and design standards, of the 96.5 kilometers of the Project, in the sections Primavera – La Pintada and La Pintada – Bolombolo (Antioquia), which includes the construction of the 2.5-km double-tube Mulatos Tunnel, the bridge over the Cauca River with a length of 500 meters, other more than 40 bridges , 42 km of new road, 39 km of dual carriageway and a state-of-the-art operations control center.

This work is part of the first group of Fourth Generation road concessions in Colombia and together with Pacífico 1 and 3 will connect the north of the country with Antioquia, the Coffee zone, Valle del Cauca and the Colombian Pacific, managing to reduce the time of travels up to 25%

Odinsa reports the reactivation of the Malla Vial del Meta Project after reaching an agreement with the National Infrastructure Agency.

Odinsa S.A, Grupo Argos concessions company, informs that after carrying out various work tables and seeking to contribute to the connectivity, competitiveness and economic and social development of Meta, the Concesión Vial de los Llanos S.A.S. (of which it is the majority shareholder with a 51% stake in the capital stock) and the National Infrastructure Agency (ANI) signed on January 8, 2021, amendment No. 10 to the Concession Contract No. 004 of 2015, which modifies the scope of the Malla Vial del Meta project in order to make it financially viable, in compliance with the postulates of good faith and preservation of the contract in accordance with the purposes pursued by state contracting.

In these working groups, which were accompanied by the General Comptroller of the Republic, the components of the Malla Vial del Meta project were rigorously analyzed, several alternatives were studied and finally, a new scope that makes the project viable and gives it continuity, was defined. This, benefit the department and its inhabitants.

With the subscription of amendment No. 10, the value of the contract was modified, going to $ 1,580,927,030,907 (values of December 2013), the value of the VPIP and the scope of the project were also modified, and includes now the construction and improvement of 267.4 km of roads and necessary works to strengthen connectivity in the Villavicencio – Granada and Villavicencio – Puerto Gaitán corridors, as well as the extension of the Villavicencio Road Ring.

As for the term of the contract, it remains as originally planned, that is, with a maximum term of 30 years, of which the first 5 years have already been completed.

Odinsa, recognizes and highlights the management carried out by the entities participating in the process, especially the National Infrastructure Agency, to make the continuation of the project viable. Likewise, the company reaffirms its commitment to continue working decisively, in conjunction with its Concession, to contribute to the competitiveness of the Meta department, with the development of this project under a comprehensive perspective that provides the infrastructure required for connectivity, contributes to the social development and promote environmental care.