Fitch raises Panama rating to “BBB”

Best Growth Stock – The Fitch Ratings agency raised Thursday the credit rating of Panama in a step to “BBB” and revised its Outlook to stable.

Fitch cited strong prospects for growth of Panama and the favorable dynamics of the debt of the Government.

The rating is investment grade.

After years of rapid economic expansion and budget reduction, Panama received his first note in the category of Fitch investment grade last year. Moody’s and Standard & Poor’s soon followed suit.

The improvement on Thursday means that Panamanian debt is among the best qualified of Latin America, sharing the same note with Mexico.

“The growth of Panama momentum has eclipsed most of their peers in qualifying and it is expected that this trend will continue,” said Shelly Shetty, who heads the sovereign ratings of Fitch for Latin America.

Panama, which uses the dollar as currency and which administers one of the most important steps between the Pacific and Atlantic oceans, has emerged as a winner of the growth of world trade.

About 4% of global trade passes through the channel of Panama and the country also exports products from ports located on both coasts.