S&P lowers Colombia's sovereign credit rating to BBB-minus

Dec 11 (Reuters) - Ratings agency S&P Global lowered Colombia's long-term foreign currency sovereign credit rating by a notch to BBB-minus, citing the South American country's weakened policy flexibility.

Colombia's economy continues to suffer from the effects of lower commodity prices, reflected in its high level of external debt, the ratings agency said in a statement. (http://bit.ly/2z1S2PA)

"Amid weakened fiscal and external profiles generating diminished policy flexibility, we are lowering our long-term foreign and local currency sovereign credit ratings on Colombia to 'BBB-' and 'BBB' from 'BBB' and 'BBB+', respectively," S&P said.

S&P rated Colombia's outlook as stable, indicating it expects the country's political institutions and economic policies to continue to contribute to economic stability. (Reporting by Rishika Chatterjee; Editing by Leslie Adler and Matthew Lewis)

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