Fitch Still Positive on Panama

Fitch Still Positive on Panama

Panama

Fitch has affirmed Panama’s long-term foreign currency and local ratings at BB+ with positive rating outlooks. The ratings reflect the sovereign’s resilience to withstand the international financial crisis, even though it will experience a cyclical downturn. Although both economic growth and the fiscal balance are expected to deteriorate in 2009, Panama’s macroeconomic and structural strengths will continue to set it apart from BB peers. Panama’s main credit weakness remains its high level of go

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