Moody’s Improves Colombia Outlook

Moody’s Investors Service has changed its outlook to positive from stable on Colombia’s Ba2 foreign-currency government bond rating, Ba1 foreign-currency bond ceiling, and Ba3 foreign-currency ceiling for deposits. The outlook change reflects the improvement of key debt ratios as a result of the investment-driven recovery in growth and of continued fiscal restraint, said the agency. The outlook for Colombia’s Baa3 local-currency government bond rating is unaffected by the action and remains at stable, added Moody’s. Improved security, greater investment and fiscal consolidation were all factors in the agency’s action, according to vice president and senior analyst Alessandra Alecci.