S&P revises Paraguay to positive

Standard & Poor's said it revised its outlook on the Republic of Paraguay to positive from stable.

At the same time, the agency affirmed its BB/B long- and short-term foreign and local currency sovereign credit ratings on Paraguay. The BB+ transfer and convertibility assessment was also affirmed.

S&P said the outlook revision reflects Paraguay's increasing resilience to negative economic trends in the region and looks ahead to the successful implementation of ongoing reforms to boost economic performance. The agency also expects political stability and continuity in economic policies over the next three years.

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