S&P ups Panama view to positive

Standard & Poor's said it revised the outlook on the Republic of Panama to positive from stable and affirmed its BB+ long-term and B short-term sovereign credit ratings.

"The positive outlook reflects Panama's solid growth prospects as well as an improving fiscal outlook that could strengthen the sovereign's credit profile sufficiently to merit an investment-grade rating," said S&P credit analyst Roberto Sifon Arevalo in a news release.

According to the agency, Panama's recently approved tax reform is expected to boost revenues by about 0.75% of GDP.

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