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BRIEF-S&P says Colombia foreign currency issuer credit ratings lowered to 'BBB-/A-3' on weaker policy flexibility

Dec 11 (Reuters) -

* S&P LOWERS COLOMBIA’S SOVEREIGN CREDIT RATING TO BBB- FROM BBB; RAISES OUTLOOK TO STABLE FROM NEGATIVE

* S&P - COLOMBIA FOREIGN CURRENCY ISSUER CREDIT RATINGS LOWERED TO ‘BBB-/A-3’ ON WEAKER POLICY FLEXIBILITY; OUTLOOK STABLE

* S&P -LOWERING LONG-TERM FOREIGN AND LOCAL CURRENCY SOVEREIGN CREDIT RATINGS ON COLOMBIA TO ‘BBB-’ AND ‘BBB’ FROM ‘BBB’ AND ‘BBB+’, RESPECTIVELY

* S&P - EXPECT COLOMBIA’S GENERAL GOVERNMENT CHANGE IN DEBT TO AVERAGE 3.1 PERCENT OF GDP DURING 2017-2020

* S&P - ALSO LOWERING COLOMBIA’S SHORT-TERM FOREIGN CURRENCY RATING TO ‘A-3’ FROM ‘A-2’, AND AFFIRMING LOCAL CURRENCY SHORT-TERM RATING AT ‘A-2’

* S&P - EXPECT COLOMBIA’S GENERAL GOVERNMENT DEBT TO RISE TO 38% OF GDP IN 2020 FROM 35% OF GDP IN 2017

* S&P - RATING ON COLOMBIA REFLECTS VIEW OF ITS ESTABLISHED POLITICAL INSTITUTIONS THAT PROVIDE IMPORTANT BACKING FOR ECONOMIC STABILITY

* S&P ON COLOMBIA- OUTLOOK REFLECTS EXPECTATION THAT ESTABLISHED POLITICAL INSTITUTIONS WILL CONTRIBUTE TO ECONOMIC STABILITY, CONTINUITY AFTER 2018 NATIONAL ELECTIONS

* S&P ON COLOMBIA- OUTLOOK REFLECTS EXPECTATION THAT TRACK RECORD OF PRO-GROWTH ECONOMIC POLICIES WILL CONTRIBUTE TO ECONOMIC STABILITY, CONTINUITY AFTER 2018 NATIONAL ELECTIONS Source text: bit.ly/2C4sy3K

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