Moody's may lift Paraguay

Moody's Investors Service said it placed on review for upgrade Paraguay's key ratings, reflecting a steady reduction in external and government debt ratios in recent years and an improved policy framework.

The review will cover the government's Caa1 foreign- and local-currency bond ratings and Paraguay's B3 foreign-currency bond ceiling.

"Paraguay's debt indicators have sustained significant reductions in recent years," Moody's senior analyst Gabriel Torres said in a written statement. "Also, general economic performance has been characterized by steady GDP and export growth and surpluses in the budget and the balance of payments."

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