Fitch: Bolivia outlook stable

Fitch Ratings said it revised the outlook on Bolivia's long-term foreign- and local-currency sovereign issuer default ratings to stable from negative and affirmed the ratings at B-. The agency also affirmed the short-term issuer default rating at B and the country ceiling at B-.

Public debt reductions under the Multilateral Debt Relief Initiative, maintenance of macroeconomic stability and positive economic prospects, underpinned by a favorable external environment, support the outlook revision, Fitch said.

"Though political, social and policy challenges will continue to weigh on Bolivia's ratings, the MDRI and sustained growth have reversed the prior trend of deteriorating external solvency and liquidity ratios," Theresa Paiz Fredel, senior director of Fitch's Latin American Sovereign team, said in an agency rating.

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