Moody's boosts Uruguay rating two notches to Ba1

NEW YORK Wed Dec 8, 2010 12:22pm EST

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NEW YORK Dec 8 (Reuters) - Moody's Investors Service raised the sovereign foreign currency credit rating for Uruguay by two notches to Ba1 from Ba3 on Wednesday, leaving it just below investment grade, citing improved debt and fiscal indicators.

The rating has a stable outlook.

"Uruguay's ratings are underpinned by lower susceptibility to event risk that reflects reduced economic and financial exposure to regional shocks, particularly those originating in Argentina," Mauro Leos, sovereign credit analyst at Moody's said in a statement. (Reporting by Daniel Bases and Pam Niimi, Editing by Chizu Nomiyama)

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