Loading…
Standard & Poor's cut Colombia's long-term foreign currency sovereign credit rating one notch to BBB- from BBB, with a stable outlook, and lowered its local currency rating to BBB from BBB+. The agency cited diminished policy flexibility, weakened fiscal and external profiles, and external debt.
Finance Minister Mauricio Cardenas said the central bank should hold its key interest rate.
The downgrade leaves Colombia barely above junk status, which can raise borrowing costs and pressure the peso, making imported feed ingredients more expensive for Colombian buyers. Weaker currency tends to lift the local-currency cost of US-priced corn and soymeal.
financecolombia.comJared WadeDec 12, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
