# Colombia Cut to Junk by S&P After Failed Bid to Raise Taxes - Bloomberg

> S&P Global Ratings cut Colombia's credit rating one notch to BB+, which is junk, with a stable outlook. The move followed a failed tax-raising bid and mass unrest. Colombia's dollar bonds fell, and the peso led losses among emerging-market currencies.

- Date: 2021-05-19 · published 2021-05-19T12:00:00.000Z
- Category: macro · region Colombia · magnitude medium
- Page: https://feedsoft.ai/events/47396-colombia-cut-to-junk-by-s-and-p-after-failed-bid-to-raise-taxes-bloomberg
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Loss of investment-grade status raises sovereign funding costs and pressures the peso, which lifts the local-currency cost of imported feed inputs. The political unrest adds uncertainty to fiscal policy.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-05-19/colombia-s-credit-rating-downgraded-to-junk-by-s-p

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.