December 2, 2010 / 9:36 PM / 9 years ago

Moody's upgrades Paraguay on growth prospects

NEW YORK, Dec 2 (Reuters) - Moody’s Investors Service on Thursday upgraded Paraguay’s credit ratings to B1 from B3, citing improved growth prospects and debt metrics in the South American country.

The Paraguayan economy, boosted by commodity exports and increased ties to Brazil, is expected to expand 9 percent in 2010 and close to five percent in coming years, Moody’s forecast.

The outlook on the new rating is stable, Moody’s said.

Reporting by Walter Brandimarte; Editing by Diane Craft

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