In 2011, for the first time in ten years, the Colombia investment grade credit rating was reinstated as the economic growth, bolstered by improving security conditions in the country, attracted record foreign investment.
On Dec. 10, 2013, Fitch Ratings (the global rating agency dedicated to providing value through objective and balanced credit opinions, research and data) raised Colombia’s foreign currency sovereign credit rating to BBB from BBB-minus, because of the country’s manageable debt load, growth prospects and policy stability. The credit outlook was also revised to stable from positive following this latest upgrade.
Erich Arispe, an analyst with Fitch in New York stated, “Colombia’s medium-term growth prospects remain favorable compared with several of its rating peers and should be supportive of fiscal performance.”
This change for Colombia from Fitch’s new rating on the country is now consistent with Standard & Poor’s assessment and one grade higher than Moody’s Investors Service which rates the country one step lower at Baa3 with a positive outlook. All three firms rate Colombia as investment grade.