Triple A managed to strengthen its relationships of trust with banks in Colombia by signing a Reprofiling Agreement. With this, it will begin to diversify its funding sources and will again open the doors to national, international and multilateral financing, according to the company in a statement.
The agreement was signed with Banco Itaú, Banco de Bogotá, Bancolombia, Scotiabank Colpatria, Banco GNB Sudameris and Banco de Occidente. The loan amounts to approximately COP 100,000 million for a term of five years that includes a one-year grace period for capital. Thus, with the support of Triple A banks, it achieved an annual reduction of between COP 5,000 – 10,000 million in its debt service, releasing the pressure on the cash.
“We have established ourselves as a solid, reliable and profitable company. Thanks to this, we have strengthened ties of trust with local banks. It is not only about acquiring new loans, it is about improving our credit rating and deepening our relationships with the national and international financial system. This is part of our expansion and growth plan ”, stated Angela Ortiz, general manager (e).
The signing of this agreement is a firm step in your financial consolidation with a view to better risk management. In 2017, the company went through administrative and reputational difficulties that affected its relationship with banking. Nowadays, with the transparent exercise and the cleaning up of the company, they attest to a new direction and this is how the company is once again positioned as a home utility company with high indicators of quality, compliance and financial soundness.
Balance 2020 and investment projection 2021
In 2020, the company developed strategies and executed an investment plan for more than COP 160,000 million that allowed it to continue providing services with quality and continuity, even during the health crisis.
Triple A closed the year 2020 with net income of around COP 94,000 million, a growth of 20% compared to the previous year.
The company returned to the State and the District more than COP 100,000 million through taxes and royalties. We delivered more than $ 8,000 million to recyclers’ associations. Likewise, the costs of providing the service had a reduction of 15%.
“For the year 2021, investments for COP 120,000 million are projected in works focused on improving the quality of the service in all the municipalities that we serve with our own projects such as the Construction of the El Ferry Station (Barranquilla) ;; the Drinking Water Treatment Plant (Soledad); the construction of the Achotera storage tank (Ponedera); Optimization of water catchment in the Ponedera-Sabanalarga regional system; the optimization of PTAP No. 1 of Puerto Colombia; of Plant No. 3 Sabanagrande Regional System; Cordialidad Station (Sabanalarga) and Santo Tomás Station, as well as projects to expand networks, collectors and treatment plants, ”adds Ortiz.
Additionally, the company designs and supports the start-up of important projects together with the Government of Atlántico and the District Mayor’s Office, such as the construction of the Northern Aqueduct system, Sanitation of the Mallorquín Ciénaga, Sanitation of the Northeast Basin of Barranquilla and the La Sierra and Cupino tanks in the municipalities of Galapa and Puerto Colombia, respectively.
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