Investors shrug off Colombia downgrade
Colombian asset prices hardly budged this week after Standard & Poor’s brought the South American sovereign — once an EM darling — within one notch of junk status.
S&P downgraded Colombia’s foreign currency credit rating from BBB to BBB- after markets closed on Monday, saying weaker than expected growth had taken its toll on government finances.Though one Lat Am DCM head claimed there was genuine worry about Colombia’s investment-grade status among market participants, investors who spoke ...
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