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S&P lowers Colombia rating outlook to negative

Wednesday, February 17, 2016

The outlook on Colombia’s credit rating was cut to negative by Standard & Poor’s, which cited deteriorating growth prospects amid the tumble in oil prices and said the country is in need of fiscal reform.

The foreign-currency rating was affirmed at BBB, two levels above junk, S&P said in a statement Tuesday. Colombia has had an investment-grade rating from S&P since March 2011.

Source: Bloomberg