Moody's ranking

[NewsWhore]

Moody's Investors Service has upgraded the DR's debt rating on the grounds of a stronger-than-expected recovery from the 2003 banking and currency crisis. "Macroeconomic stability has been restored, and the country is experiencing above-trend growth with GDP increasing at an average annual rate of 10 percent during 2005 and 2006," said the firm's analyst Mauro Leos in a statement released on Tuesday. The DR's foreign- and local-currency bond ratings were upgraded to "B2" from "B3." The foreign-currency country ceiling was upgraded to "Ba3" from "B1." All ratings have a stable outlook.

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