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Colombia Debt Rating May Be Raised by Fitch on Reserves, Growth

March 6 (Bloomberg) -- Colombia’s foreign debt rating may be raised by Fitch Ratings as international reserves rise and debt levels drop.

Fitch rates Colombia BBB-, the lowest investment-grade level. The outlook on Colombia’s credit rating was moved to positive from stable, the agency said in a statement today.

“As a result of continued international reserve accumulation, Fitch expects Colombia to become a net sovereign external creditor in 2013,” Fitch said in a statement today. “In addition, government debt burden continues to decline driven by fiscal consolidation and economic growth.”

Colombia won an investment-grade credit rating in 2011 for the first time since 1999 as improved security bolstered economic growth and attracted record foreign investment. Standard & Poor’s in August also raised its outlook on Colombia’s BBB- rating to positive.

To contact the reporter on this story: Andrea Jaramillo in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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