Credit rating
S&P downgrades Colombia's sovereign rating to BB- over fiscal imbalances; business leaders criticize rising debt
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S&P Global Ratings downgraded Colombia's sovereign credit rating to BB- (long-term foreign currency) and BB (local currency) with a stable outlook on April 8, 2026, citing persistent fiscal imbalances, higher spending, lower revenues, and suspension of the fiscal rule. The move, following Fitch's downgrade in December, has prompted sharp criticism from business leaders over deteriorating public finances under the Petro government.
Moody’s Ratings cut Mexico’s sovereign credit rating to Baa3 from Baa2 and shifted the outlook to stable. The move reflects ongoing fiscal weakening and subdued economic growth forecasts.
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Argentine financial markets reacted strongly on Wednesday after Fitch Ratings upgraded the country's sovereign debt. The agency raised the rating from CCC+ to B- with a stable outlook.