E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/7/2023 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.

Fitch upgrades Uruguay

Fitch Ratings said it upgraded Uruguay's long-term foreign-currency and local-currency issuer default rating to BBB from BBB-.

“The upgrade reflects Uruguay's resilient fiscal performance in absorbing the Covid-19 pandemic shock coupled with its record of compliance with its modified fiscal framework, which has enhanced its fiscal credibility, increased resilience to economic shocks and reduced the risk of a potential marked future increase in the government debt burden. The recent approval of a reform that improves the sustainability of the pension system further signals the commitment to fiscal policy that is more prudent and consistent with its high governance scores,” Fitch said in a press release.

The outlook is stable.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.