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Local Assets Fall - Analysts Await Next Credit Rating Decision

COLOMBIA
  • Colombian assets also struggled following the S&P downgrade. As set out yesterday, the focus now appears to shift towards the next decision from either Moody's or Fitch and more importantly the timing with some analysts suggesting S&P's decision may have been premature.
  • Finance Minister Restrepo on the wires yesterday explaining that investor confidence will be rebuilt as the dust settles following nationwide demonstrations.
  • Citi note their team sees scope for fading weakness after the second credit announcement - outlining it often marks "peak negativity".

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