NEW YORK, Dec 10 (Reuters) - Fitch Ratings on Tuesday upgraded Colombia’s foreign currency sovereign credit rating to BBB from BBB-minus, citing improving debt dynamics and “credible and consistent” policies.
The outlook on the credit was revised to stable from positive following the overall upgrade.
“Colombia’s medium-term growth prospects remain favorable compared with several of its rating peers and should be supportive of fiscal performance,” Fitch said in a statement.
Fitch’s move on Colombia brings it in line with Standard & Poor’s BBB rating with a stable outlook while Moody’s Investors Service rates the Andean nation one notch lower at Baa3 with a positive outlook. Colombia is rated investment grade by all three agencies.