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Sovereign Wealth Funds Briefing - Categorized | Investment

Colombia may obtain investment grade with oil fund, RBS says

Posted on 25 June 2010

From Bloomberg: Colombia may obtain an investment- grade rating should it follow through with plans to create an oil stabilization fund for “counter-cyclical” savings and to pay down debt, RBS Securities Inc. said.
“Follow-through action on an oil stabilization fund and fiscal responsibility law should provide the necessary catalyst for the investment-grade ratings from Moody’s and Fitch and reaffirm our convergence trade on external credit spreads to the high-grade pack over the next 3-6 months,” Siobhan Morden, head of Latin America strategy at RBS in Stamford, Connecticut, wrote in a report today……………………………………….Full Article: Source

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