Moody's upgrades Paraguay

Moody's Investors Service said it upgraded Paraguay's government bond rating and issuer rating to Ba1 from Ba2 and changed the outlook to stable from positive. The long-term foreign-currency bond ceiling was changed to Baa3 from Ba1. The long-term local-currency bond ceiling remains unchanged at Baa3.

The agency said its decision to upgrade Paraguay's rating was driven by the following: the implementation of the package of reforms approved in 2013 is strengthening the fiscal framework and boosting infrastructure investment, efforts to diversify the economy are producing positive results and the country is experiencing improved governance and institutional strength.

The stable outlook reflects the agency’s expectation that the government will continue to implement the various laws approved in late 2013 and maintain fiscal prudence while expanding infrastructure investment over the medium term.

© 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.