June 16, 2010 / 2:03 PM / 9 years ago

Moody's raises Chile credit rating to Aa3

NEW YORK, June 16 (Reuters) - Moody’s Investors Service on Wednesday raised its ratings on Chile, citing the country’s financial resilience in spite of the global economic slowdown and damages from its recent earthquake.

Moody’s raised the country’s rating one notch to Aa3, the fourth highest investment grade, from A1. The outlook is stable, indicating an additional rating change is not anticipated over the coming 12-to-18 months.

“Years of solid macroeconomic policies, including a structural fiscal surplus rule meant to smooth government revenues and expenditures, positioned Chile well to deal with the global economic crisis and the financial aftermath of the earthquake,” Moody’s said in a release. (Reporting by Karen Brettell; Editing by Theodore d’Afflisio)

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