Colombia, Peru Could See Investment Grade

Brazil and Colombia could see their sovereign ratings increased before the summer, according to a Moody’s analyst. Patrick Esteruelas, Moody’s senior analyst for LatAm sovereign risk, says the ratings agency will decide on the ratings for the two countries before the summer. Brazil is rated Baa3, while Colombia is rated Ba1 by Moody’s and was raised to a positive outlook in September. Esteruelas says Peru is also on a path for further upgrades. It is also rated Ba1 by the agency. Esteruelas spoke before the Venezuela, Peru, Ecuador and Colombia America Associations in New York Thursday.