Grupo de Inversiones Suramericana S.A. hereby announces that yesterday S&P reported that it had downgraded the Company’s long-term international rating from "BBB-" to "“BB+" while maintaining a stable outlook.

In view of this decision, Grupo SURA would like to clarify the following points:

  • This rating is exclusively of an international nature.
  • As explained in S&P’s report, this decision obeyed the downgrading of Colombia's sovereign rating, which also went from “BBB-” to “BB +”, which means having lost its former investment grade.
  • This ratings agency argued that this decision was made given the correlation between the Colombian economy and the Company's assets and streams of dividends, since its investment focus is on companies that form part of the Colombian financial system.
  • It is important to point out that Fitch Ratings' current rating maintains Grupo SURA's international investment grade at "BBB- ". Furthermore, Grupo SURA’s local rating stands at "AAA", the highest possible rating on the local market.
  • Similarly, it must be noted that Grupo SURA's credit profile continues strong, given its well-balanced investment portfolio, consisting of companies that are leaders in their own markets, industries and countries.
  • The Company has sufficient resources to meet future cash requirements. In fact, a timely payment was made on an issue of international bonds that matured on May 18, this in the amount of USD 300 million.
  • Recently, Grupo SURA published its consolidated financial results for the first quarter of 2021, obtaining a net income of COP 211,188 million. This was made possible thanks to the levels of performance on the part of Grupo SURA’s subsidiaries, as well as the results obtained from its investment portfolio.