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Article: URUGUAY: MOODY'S UPGRADES URUGUAY'S BOND RATINGS.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- January 13, 2009
CopyrightCOPYRIGHT 2009 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service has upgraded the foreign- and local-currency bond ratings of the government of Uruguay to Ba3 from B1 to reflect a steady improvement in the government's overall debt profile. "This improvement has contributed to reduced credit risks stemming from declining debt ratios" said Moody's Vice President-Senior Credit Officer Mauro Leos. "The upgrade reflects reduced vulnerabilities associated with a somewhat lower degree of dollarization in government debt obligations and, at the margin, Uruguay's banking system." Uruguay's foreign-currency country ceiling for bonds and notes was also upgraded to Ba1 from Ba2, and the country's ceiling for ...
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