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DBRS raises Uruguay
DBRS, Inc. said it has upgraded Uruguay's long-term foreign and local currency issuer ratings to BBB (low) from BB (high).
In addition, the short-term foreign and local currency issuer ratings were upgraded to R-2 (middle) from R-3. The trend has been revised to stable, the agency said.
According to DBRS, the reasons for the upgrade include sustained high rates of economic growth driven by investment, exports and a structural transformation of the agriculture sector and very low rollover risk.
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