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Colombia debt rating raised by Standard & Poor’s

Thursday, April 25, 2013

Colombia’s foreign debt rating was raised to the second-lowest investment grade by Standard & Poor’s as economic growth increased tax revenue and peace talks with rebels boosted investor confidence.

Yields on benchmark local bonds fell to a record low as S&P lifted Colombia one step to BBB with a stable outlook.

“A stronger fiscal profile, growing domestic capital markets, and favorable long-term prospects for GDP growth have strengthened Colombia’s creditworthiness,” S&P credit analyst Joydeep Mukherji said.

Source: Bloomberg