S&P lifts Panama

Standard & Poor's said it raised its long-term foreign- and local-currency sovereign credit ratings on the Republic of Panama to BBB from BBB-.

The agency also said that it raised the short-term ratings to A-2 from A-3. The outlook is stable.

"The upgrade reflects our view that Panama's economic policy flexibility is strengthening as the economy continues to grow, diversify, and gain resilience," said S&P credit analyst Roberto Sifon-Arevalo in a news release.

"The stable outlook balances our view that Panama's economic growth prospects and fiscal flexibility are strong against the challenges that could emerge in transitioning to a less buoyant environment," Sifon-Arevalo said.

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