Colombia Credit Outlook Raised

Colombia’s improving economic prospects have prompted ratings agency Standard & Poor’s to raise the country’s long-term foreign and local currency sovereign credit ratings outlook to positive from stable. “The country’s better growth prospects are largely a result of significant and sustained improvement in domestic security that has, in turn, led to renewed domestic confidence and double-digit growth in private investment, raising the ratio of investment to GDP to above 21%,” noted S&P credit analyst Richard Francis.