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29 Jul 2014

Moody's upgrades Colombia to Baa2

Colombia's credit rating increased by Moody's to Baa2

Colombia's credit rating was raised one level by Moody's Investors Service, which cited an expected boost to growth from President Juan Manuel Santos $25 billion highway program.

The government bond rating was raised to Baa2, two steps above junk grade, with af stable outlook. The move puts Colombia in line with the Moody's rating for Brazil, Latin America's largest economy.

Moody's expects continued growth and the government's fiscal deficits are considered "moderate"

Source: Bloomberg