Odinsa S.A. informs that today it was notified by Fitch Ratings of the increase in its long-term rating to ‘AA(col)’ with a Stable Outlook and the affirmation of the short-term rating at ‘F1+(Col)’. Likewise, the rating agency also raised the ratings of its ordinary bond issues for COP 400,000 million and for COP 280,000 million to ‘AA(col)’.
Fitch Ratings, one of the three main risk rating agencies in the world, considered that Odinsa deserves the increase in the rating, taking into account several key factors, such as the consolidation of the road asset platform with a strategic partner such as Macquarie Asset Management ( MAM), his extensive experience in project development, his link with Grupo Argos S.A. as the controlling shareholder (99.9%) with the highest AAA(col)/Stable rating, the strengthening of the capital structure, the reduction of financial debt, the simplification of the corporate structure and the optimization of the asset portfolio .
The AA(Col) rating, given to Odinsa, is a national long-term credit rating. It belongs to the first category, which includes the debt issues with greater certainty about their payment capacity, that is, very attractive issues for investors, who see Fitch’s opinion as an important benchmark for decision-making.
As for F1(Col), it is the highest short-term national credit rating. Indicates strong capacity for timely payment of financial commitments in relation to other issuers or obligations in the same country. It is assigned to the lowest default risk compared to others in the same country and when the liquidity profile is particularly strong, a “+” is added to the assigned rating, as is the case of Odinsa.
In this way, the confidence of the market and investors in Odinsa is further strengthened.