Moody's Raises Panama Ceiling

Moody's Raises Panama Ceiling

Panama

Moody's has upgraded Panama's foreign and local-currency country ceilings for bonds to A3 from Baa1. "Panama's country ceilings for bonds are meant to capture the risk of a disruption in the smooth functioning of the dollar payments system, as occurred during the 1988-89 political crisis," says Moody's senior analyst Alessandra Alecci. At that time, the US suspended the clearing arrangement between Panama and the Federal Reserve, and the Panamanian authorities imposed a nine-week bank holiday. A

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