# Finance Colombia   » Standard & Poor’s Lowers Colombia’s Long-Term Foreign Currency Sovereign Credit Rating to BBB-

> 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.

- Date: 2017-12-12 · published 2017-12-12T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/67753-finance-colombia-standard-and-poor-s-lowers-colombia-s-long-term-foreign
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

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.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- financecolombia.com: https://www.financecolombia.com/standard-poors-lowers-colombias-sovereign-credit-rating-bbb-minus/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.