• Fitch Ratings, one of the three main risk rating agencies in the world, upgraded Odinsa’s rating and its ordinary bond issues to AA(col) with Stable Outlook.
• As key factors, the agency highlighted the creation of the road assets platform with Macquarie Asset Management (MAM), its wide experience in the development of projects and the optimization of its capital structure with the reduction of its debt.
• The presence of Grupo Argos as Odinsa’s controlling shareholder was positively evaluated by Fitch as another key factor for the rating.
• Translated with DeepL.com (free version)

Medellín, June 24, 2022, Odinsa, Grupo Argos’ concessions company, received from Fitch Ratings the increase of its long-term rating to ‘AA(col)’ with Stable Outlook and the affirmation of its short-term rating at ‘F1+(col)’. Likewise, the agency raised the ratings of its ordinary bond issues for COP 400 billion and for COP 280 billion to ‘AA(col)’.

“The ratings upgrade represents for us a seal of confidence in our management and encourages us to continue working hard to contribute to the country’s competitiveness and its positioning as a solid investment destination,” said Mauricio Ossa, president of Odinsa.

The consolidation of the road assets platform with Macquarie Asset Management (MAM) was one of the key factors for the increase of this rating. According to Fitch’s report, the entry of this strategic partner will provide Odinsa with experience and access to international markets, giving it the capacity to grow in the concessions business inside and outside Colombia.

Likewise, the agency highlighted the importance of its link with Grupo Argos S.A. as controlling shareholder, which has the highest AAA(col)/Stable rating; the reduction of the company’s financial debt; the simplification of the organizational structure, and the optimization of its portfolio with expansion and diversification capacity.

The AA(col) rating, granted to Odinsa, is a long-term national credit rating. It belongs to the first category, which includes debt issuances with greater certainty about its payment capacity, that is, very attractive issuances for investors, who see in Fitch’s opinion, an important reference for decision making.

As for F1(col), the highest national short-term credit rating, it indicates a 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 risk of default with respect 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.

About Odinsa Vïas: the new road asset platform of Odinsa and Macquarie Asset Management

This Wednesday, June 22nd, Odinsa and Macquarie Asset Management (MAM), the world’s largest infrastructure asset manager, announced the consolidation of their strategic alliance and the start of operations of their road infrastructure investment platform, each with a 50% stake.

For the creation of this new investment platform, which is positioned among the main ones in the region, the companies established the private equity fund: Odinsa Vías. This fund has the participations of Odinsa’s projects in Colombia: Pacífico 2, Túnel Aburrá Oriente, Autopistas del Café and Malla Vial del Meta; besides its projects and initiatives in structuring: the expansion of Túnel de Oriente, in Antioquia; Perimetral de la Sabana, in Cundinamarca and Conexión Centro, in Eje Cafetero.

The presence of Macquarie Asset Management (MAM) in the Colombian market through this alliance ratifies the interest of large investors in the infrastructure sector and the country. Learn more at: https://www.odinsa.com/odinsa-vias-plataforma-de-inversion-en-infraestructura-vial-de-odinsa-y-macquarie-asset-management-inicia-su-operacion/

For additional information contact:

Viviana Arroyave, Communications Director / varroyave@odinsa.com / 317 646 92 18

Luisa Díaz, communications analyst / luisadiaz@dattis.com / 322 366 4488

Visit the website www.odinsa.com

Visit https://www.fitchratings.com/es/region/colombia