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Moody's Upgrades Panama To Investment Grade

Moody's Investors Service on Wednesday upgraded Panama's sovereign ratings to investment grade of Baa3 from Ba1 on a significant improvement in the country's fiscal and debt positions.

"The anticipated positive impact of fiscal policy initiatives on government accounts and prospects for sustained economic growth are at the core of the upgrade," said Alessandra Alecci, Moody's vice president and senior analyst.

"The Panama Canal expansion and an ambitious infrastructure investment program are likely to support strong economic growth in the next few years, boding well for debt dynamics," added Alecci.

The outlook is stable.

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