Fitch Ratings revised its outlook on Colombia’s sovereign credit to positive from stable on Thursday, citing the country’s economic resilience and improved macroeconomic performance.
Fitch affirmed the BB-plus foreign currency sovereign rating. The positive outlook puts Colombia on a path to investment grade if the rating is lifted one notch.
“Colombia’s expected increase in oil and mining production will likely benefit overall economic activity and export receipts, in turn supporting improvements in external solvency and liquidity metrics,” Fitch said in a statement. (Daniel Bases / Reuters)