Moody's Upgrade Chile to A1

Moody's today upgraded Chile's long term sovereign debt rating from A2 to A1. Chile is the only country so far in 2009 to have had its rating upgraded.

-The agency said the move reflects the country's "strong resilience" to external shocks related to both the government's "robust" foreign asset position and a solid balance sheet that reflects the government's status as a net creditor.-