Moody's lifts Bogota, Medellin views to stable

Moody's Investors Service said it affirmed the Baa2 local-currency issuer and debt ratings of Bogota, Distrito Capital (Colombia).

The agency also affirmed the Baa2 issuer ratings of the city of Medellin.

The outlook for both cities also was changed to stable from negative.

The baseline credit assessments on both cities also were affirmed at Baa2.

The action was prompted by the recent outlook revision to stable on the government of Colombia, Moody's said.

The ratings on Bogota and Medellin reflects their relatively strong operating performance and indicators of financial health, including high levels of own-source revenues stemming from sizable economies, the agency said, relatively low debt levels and manageable cash financing requirements.

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