Latin America: An Investment Grade Story

Our long-standing view has been that key Latin American countries are on the path to achieving investment grade status, and in the relatively near future. This view is playing out. Since the beginning of the year, the major ratings agencies have recognised the improving debt dynamics in the region, with upward outlook revisions and/or upgrades for Peru, Colombia, and Brazil. We believe that these countries will achieve investment grade status, in the order just stated, within the next 12-18 months. Our sovereign risk ratings show these countries in the opposite order - Brazil is above Colombia, which is above Peru

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