S&P lifts Paraguay

Standard & Poor's said it raised its long-term sovereign credit rating on the Republic of Paraguay to B from B-.

At the same time, S&P said it raised its short-term sovereign credit rating on the republic to B from C.

The outlook on the long-term rating is stable, the agency said, noting that the upgrade reflects improvement in Paraguay's economic and fiscal indicators and the greater certainty that the country's recently strengthened economic institutions can withstand pressures expected to result from next year's presidential elections.

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