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Standard & Poor's and Moody's Investors Service boost Panama. Likelihood of upgrade if economy continues to improve

Tuesday, August 9, 2011

\ Standard & Poor's and Moody's Investors Service have recently raised Panama's sovereign rating outlook from stable to positive.\ \ While maintaining Panama's investment grade rating at BBB-, Standard & Poor's improved outlook 'reflects the likelihood of an upgrade if the better-than-expected performance of Panama's economy continues over the next year or two'.\ \ Moody's cited significant improvement, economic growth prospects and the government's solid balance sheet. These announcements follow a June announcement by Fitch Ratings that it was upgrading Panama's rating to BBB.\ \ Original source: Petaquilla Minerals (press release)\ \ \ \