Fitch Revises Chile Outlook To Positive

Fitch Ratings Tuesday revised the outlook on Chile’s long-term foreign and local currency sovereign Issuer Default Ratings (IDR) to positive from stable. The ratings action reflects improvements in its external balance sheet helped by “further enhancement of its prudent, rules-based macroeconomic policies along with high commodity prices.” Fitch expects continuing positive trends in public finance and external balance sheet, which “raise the likelihood of a ratings upgrade over a horizon of two years,” says Theresa Paiz Fredel, senior director for Latin American Sovereign Ratings.