Fitch Ups Panama

Fitch Ups Panama

Panama Bonds Corporate & Sovereign Strategy

Fitch has raised Panama’s credit rating to BBB from BBB minus, it says, based on solid economic growth prospects and favorable government debt dynamics. “Panama's growth momentum has outshined that of most of its rating peers and this trend is expected to continue,” the agency says. Fitch forecasts 7.0% GDP growth in 2011 and in 2012, following a surprise to the upside 7.5% last year. The Panama Canal expansion, an ambitious $13.5bn public investment program and strong foreign direct investment

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