In mid-March, Standard & Poor’s raised Colombia’s sovereign credit risk from BB+ to an investment grade rating of BBB-, citing reduced crime, sound macroeconomic policies, and a positive growth outlook.  Colombia, which lost investment grade rating in 1999 amidst mounting violence and a crisis in the banking sector, experienced a rapid increase in foreign direct investment (FDI) over the last decade as internal conditions improved.  This upgrade aligns Colombia with Peru and Brazil, and will likely open new opportunities for Colombia to attract FDI. 

For a full length article on S&P raising Colombia’s credit rating, see this article from Bloomberg Businessweek. 

To view the official press release from the Colombian Ministry of Finance and Public Credit, click here.

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