Fitch upgrades Colombia’s sovereign rating to stable

Fitch Ratings has affirmed Colombia’s sovereign rating at BBB and upgraded its rating outlook from negative to stable. This returns the nation to the position it was at the beginning of 2016 before Standard & Poor’s and Fitch both changed their Colombia outlooks to negative.

In its analysis, Fitch highlighted the country’s improving macroeconomic imbalances, current account deficit reduction, falling inflation rate, and “diminished uncertainties surrounding Colombia’s fiscal consolidation path due to passage of tax reform measures in December 2016.”

Source: Finance Colombia