Debt from companies with some of the lowest credit ratings had its best month ever last month, in yet another sign that sentiment is continuing to improve, even on some of the most stressed assets.

The leveraged loan market has staged a strong rally as consensus that a recovery is just around the corner becomes more entrenched, prompting investors to look further and further down the ratings spectrum in a bid to boost returns.

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Colombia’s foreign debt in February rose in absolute terms and as a percentage of the country’s gross domestic product as the government and private companies borrowed more abroad.

The Central Bank said total foreign debt as a percentage of GDP rose to 22%
in February from 19% a year earlier.

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