Moody's might upgrade Panama

Moody's Investors Service said it placed Panama's key ratings on review for upgrade, including its Ba1 foreign-currency government bond rating, A3 foreign-currency country ceiling for bonds and Baa2 foreign-currency country ceiling for deposits.

The agency said the review recognizes the significant improvement in the country's fiscal and debt positions over the past several years and a structural upward shift in economic growth.

Together with the Panama Canal expansion, intentions to undertake an ambitious infrastructure development program are likely to sustain growth rates in the next few years, Moody's predicted.

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