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Non-Tech : Banco Industrial Colombiano ADR NYSE:CIB -- Ignore unavailable to you. Want to Upgrade?

To: Arnold Layne who wrote (37)	6/19/1998 2:52:00 PM
From: Arnold Layne	Read Replies (1) \| Respond to of 72

Moody's assigns Colombian gov't bonds rating NEW YORK, June 19 - Moody's assigned a Baa2 rating to the medium and long-term local currency-denominated bonds issued by the Republic of Colombia. The agency indicated that the rating reflects Colombia's moderate internal debt burden, which is a consequence of the fiscal conservatism observed during the 1980s and the early 1990s, in addition to a macroeconomic environment characterized by a relatively stable inflation rate. Moody's also mentioned that, even though Colombia's domestic debt level is presently manageable (10% of GDP), higher fiscal deficits in recent years indicate that the debt burden will be increasing at above historical trend rates. With the stock of outstanding treasury bills (TES) reporting a seven-fold increase from 1993 to 1997, current and future budget pressures will constrain the rating in the mid-term, said Moody's. 12:13 06-19-98 Copyright 1998 Reuters Limited.