Simone Baribeau

Panama was one step closer on Friday to receiving a coveted investment grade rating on its sovereign bonds. Moody’s, one of the three main ratings agencies, put the Central American country’s key ratings on review for an upgrade. The group currently rates Panama’s Ba1 foreign currency government bond rating at one notch below investment grade.

The move follows a similar action by Standard & Poor’s, which upgraded its BB+ outlook on Panama from stable to positive in November. Read more