Political Risk Latin America Blog @PolRiskLatam

Colombia’s Foreign Debt Rating Raised to Investment Grade by S&P on Growth

Posted in News and Articles, Political Risk by politicalrisklatam on March 17, 2011

by Boris Korby and Helen Murphy for Bloomberg, March 16th, 2011.

Colombia’s credit rating was boosted to investment grade by Standard & Poor’s, 11 years after it was cut to junk in the midst of an insurgency, as violence recedes and growth prospects improve.

S&P raised Colombia one step to BBB-, from BB+. The increase puts Colombia’s rating in line with that of Brazil and Peru. Moody’s Investors Service and Fitch Ratings rate Colombia one level below investment grade.

Colombia has cut its homicide rate by almost half since 2002, when former President Alvaro Uribe took office and boosted investor confidence by cutting debt levels, maintaining stable inflation and increasing economic growth. The government forecasts the economy grew 4 percent last year and estimates gross domestic product will rise 4.5 percent this year. (continue reading… )

 

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