MONTEVIDEO: Ratings agency Standard & Poor’s has lifted Uruguay's long-term foreign and local currency sovereign credit ratings on Uruguay to BB from BB- with a stable outlook as a result of the countries robust economic growth.
Uruguay's gross domestic product is tipped to grow 6.5 percent this year, following on from 2.9 percent in 2009.
The government recently issued a decree authorising the Ministry of Economics to acquire bonds in market to reduce the amount of the public debt.
Source: La Nación, Wall Street Journal
