Moody’s Raises Chile Rating

Ratings agency Moody’s Investors Service has raised Chile’s foreign currency debt rating two notches, from Baa1 to A2. The agency said that improvements in the country’s external debt levels prompted the decision. The revenues from the high price of copper have helped to ensure that this year Chile will, for the first time ever, become a net creditor – with net public debt accounting for around 2.5% of GDP. The spread of Chilean government bonds over US treasuries stands at 62 basis points.