July 23 (Bloomberg) -- Colombia’s foreign credit rating may be raised to investment grade by Standard & Poor’s Rating Services when the South American nation recovers from the global crisis, the rating agency said.

“Successfully withstanding the severe stress imposed on the Colombian economy during the global downturn could set the stage for an upgrade when the global economy starts to recover and if Colombia’s fiscal and debt profiles become stronger,” S&P said in a report today.

S&P affirmed Colombia foreign debt rating at BB+, or one level below investment grade.

Source: bloomberg.com