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Standard & Poor's hints at upgrade for Colombia

Thursday, August 16, 2012

Standard & Poor's revised its outlook on Colombia's sovereign credit ratings to positive from stable, in what is seen as the first step to a possible upgrade of the Andean nation's credit.

After 10 years crawling back from junk bond status, Colombia's strong economic performance and security advances helped the country clinch three investment-grade credit ratings from major Wall Street agencies last year.

"A sustained improvement in the government's financial profile based on prudent fiscal policy could result in an upgrade," Standard & Poor's said in a statement.

Source: Reuters