Fitch slaps Colombian utility with negative watch

Ituango, Colombia, EPM, Medellin, flood, dam, LatAm, hydroelectric
By Oliver West
14 May 2018

Colombia’s highest rated issuer, Empresas Públicas de Medellín (EPM), is in danger of a downgrade after troubles in the construction of its planned Ituango hydroelectric plant, the largest infrastructure project in the country.

Fitch placed EPM’s BBB+ rating on negative watch on Friday to reflect “the increased likelihood of delays in the construction” of the plant, after the sudden collapse of a mountain section at the Ituango dam blocked a tunnel that diverts water from the Cauca River downstream from the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial