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Latin America's Credit Ratings Are Blessed
Wall Street Journal
August 05, 2010

Latin America, already this year's world leader in credit-ratings upgrades, could see more improvements to its credit rankings over the remainder of 2010, Moody's Investors Service said in a set of new reports highlighting increasingly stronger economic growth in the region and prudent debt management.

The report underscores a trend seen across the developing world not just in Latin America, but also in emerging Asian countries where growing domestic consumer markets and sound financial systems have protected these economies from the worst of the global financial crisis. Many of these countries are now emerging faster than the more mature markets of the world and with very low deficits.

"Solid financial systems meant no need for massive bailouts," Moody's noted saying that government deficits on average only rose to 3% in 2009, "and we expect it will fall this year."

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