S&P affirms Paraguay

Standard & Poor's said it affirmed its B long-term foreign and local sovereign credit rating on the Republic of Paraguay.

The agency said it also affirmed its B short-term rating on the Republic.

The outlook remains stable.

S&P noted that its rating on the Republic primarily is based on the country's still-fragile institutional framework and still developing political institutions.

At the current rating level, this weakness is balanced by a relatively low debt burden, because the historically conservative approach to fiscal policy has yielded balanced budgets for many years, the agency said.

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