S&P: Panama to positive

Standard & Poor's said it affirmed the BBB-/A-3 long- and short-term sovereign credit ratings on the Republic of Panama and revised the outlook to positive from stable.

Its transfer and convertibility assessment remains unchanged at AAA.

The positive outlook reflects the likelihood of an upgrade if the better-than-expected performance of Panama's economy continues over the next year or two, S&P said.

Higher growth, along with rising investment in Panama's infrastructure, could lead to faster-than-expected improvement in the sovereign's financial profile and long-term economic resilience, the agency said.

The ratings also reflect its strong economic growth, increasing economic diversity and a stable macroeconomic framework, S&P said.

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