Fitch upgrades Colombia and Philippines

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The long-term credit ratings of Colombia and the Philippines have both been upgraded one notch by Fitch, a signal of the strength of emerging market sovereign debt markets.

The rating agency on Thursday said it had raised its credit rating for Colombia from BB+ to BBB-, moving it from junk status to investment grade. The Philippines's credit rating also moved up from BB to BB+, one notch below investment grade.

In both cases, Fitch said the upgrade reflected a track record of solid macroeconomic

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