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Companies within the Argos Business Group have carried out buybacks amounting to more than COP 340 billion
21 May 2024The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
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Fitch Ratings maintained Grupo Argos’ long-term and short-term ratings at AAA (col) and F1 + (col), with a stable outlook. The rating was granted thanks to the resilience provided by a diversified investment portfolio and the credit quality, predictability and stability in the flow of dividends.
This result also took into account the financial flexibility of Grupo Argos and the ability it has shown to access alternative sources of liquidity while maintaining a robust capital structure and without debt maturities in the short term.
“We celebrate this recognition that Fitch Ratings makes to our financial management and to the adaptability and structural soundness that the organization has shown during this juncture.”
Jorge Mario Velasquez
President of Grupo Argos
In April, S&P confirmed the AA + rating for Grupo Argos, changing the outlook from stable to positive, in recognition of the Business Group’s response to the Covid-19 pandemic, the resilience in the portfolio and the good financial results of the first quarter of 2021.
The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
Read moreThe rating took into account the fulfillment of the strategic announcements reported by Grupo Argos to the market over the past years, which have resulted in sustained growth of operational margins, greater financial flexibility, and structural solidity, even in a challenging macroeconomic environment.
Read more16% of the employees at Grupo Empresarial Argos had the opportunity to experience internal mobility in the past year.
Read moreOn average the shares of Grupo Empresarial Argos doubled in value on the Colombia Stock Exchange
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