Moody's ups Colombia view to stable

Moody's Investors Service said it revised the outlook on Colombia's Ba1 foreign-currency government bond rating to positive from stable.

The outlook revision was based on the country's improved prospects for structural fiscal consolidation as a result of proposed legislation aimed at accelerating debt reduction and enhancing fiscal responsibility, Moody's said.

The outlook change also considers favorable medium-term prospects in oil production that mitigate concerns about sluggish growth relative to peers, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.