Moody’s Improves Confidence to Invest in Colombia
Gabriel Torres, Moody’s Vice-President and the person granting this new rating, informed that their decision was based on improved tax consolidation expectations, public debt reduction, good macro-economic policies, and the country’s economic resilience against external impact.
The expert pointed out that this positive outlook will remain in effect for 12-18 months, while the company evaluates an improved rating.
“Baa3 is the first step in what is known as investment grades. Considering the scale had 21 steps in total, Colombia would be in step 10; the next step would be number 9, that is, Baa2”, explained Gabriel Torres during an interview to the Portafolio economic journal.