Upgrade Depends on the Canal
<<Return to News
Upgrade Depends on the Canal
October 19, 2007
Standard & Poor’s (S&P) will give Panama’s public debt a better risk qualification in the medium
term if the financing plan for the expansion of the Canal does not damage the current performance
of public finances, according to Jane Eddy, analyst for S&P, who will make a presentation in
Washington tomorrow about emerging Latin American markets during the annual assembly of the
International Monetary Fund and World Bank.
“Our outlook on Panama continues to be positive, suggesting that the risk balance for the next 18
months will lean towards the positive side,” she pointed out.
However, “we continue to wait on the details for the financing plan for the expansion of the Canal,
and that public finances continue to improve and that diversification allows the economy to keep
its rhythm, although world commerce is slowing down.”
A positive outlook indicates that the country has potential to obtain an upgrade for its risk
qualification, “but that, in any case, depends on the factors previously mentioned,” concluded
Eddy. The grade given to Panama by S&P is BB, two levels below “investment grade.”
<<Return to News
Upgrade Depends on the Canal
October 19, 2007
Standard & Poor’s (S&P) will give Panama’s public debt a better risk qualification in the medium
term if the financing plan for the expansion of the Canal does not damage the current performance
of public finances, according to Jane Eddy, analyst for S&P, who will make a presentation in
Washington tomorrow about emerging Latin American markets during the annual assembly of the
International Monetary Fund and World Bank.
“Our outlook on Panama continues to be positive, suggesting that the risk balance for the next 18
months will lean towards the positive side,” she pointed out.
However, “we continue to wait on the details for the financing plan for the expansion of the Canal,
and that public finances continue to improve and that diversification allows the economy to keep
its rhythm, although world commerce is slowing down.”
A positive outlook indicates that the country has potential to obtain an upgrade for its risk
qualification, “but that, in any case, depends on the factors previously mentioned,” concluded
Eddy. The grade given to Panama by S&P is BB, two levels below “investment grade.”
<<Return to News
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
