OREANDA-NEWS. The Stable Rating Outlook for Colombian corporates could see some challenging economic conditions throughout this year, though they appear to be manageable, according to Fitch Ratings in a new report.

Fitch has a Stable Outlook for the majority of the 70 companies analyzed in the report, with 8.6% having a Negative Outlook and 5.7% having a Positive Outlook. This is in stark contrast to countries such as Brazil and Chile where the rating bias is overwhelmingly negative. Driving the stability is healthy liquidity, the positions of which are strong.

That said, Colombian GDP growth figures to come in under expectations for 2015. Consumption will be hurt by decreased capex in the oil sector. The depreciation of the Colombian Peso could pressure inflation. The fiscal shortfall due to dropping oil revenues will also hurt corporates through higher taxes.

Corporate exposure to the recent Colombian peso depreciation (close to 30%) appears to be manageable. Few of the analyzed corporates have U.S. dollar debt. Those that have cross border debt have manageable tenors and have interest coverage mechanisms for cash protection.

'Colombian Corporate Health: No need to call the Doctor' is available at 'www.fitchratings.com' or by clicking on the above link.