This is good news for Uruguay. Costs of borrowing go down, investment climate improves, etc. Something for many other countries in the world to emulate....
New York, July 15, 2010 -- Moody's Investors Service has placed the government of Uruguay Ba3 local- and foreign-currency bond ratings on review for possible upgrade. Moody's decision to initiate this review was prompted by (1) evidence that the global crisis has had a limited impact on the country's economic and financial outlooks; (2) a track record of declining government debt ratios which have become aligned with peer group medians; (3) signs that economic policy continuity will be preserved by the incoming Mujica administration; and (4) Uruguay's reduced exposure to
regional shocks....
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