S&P rates Paraguay bonds BB

Standard & Poor’s said it assigned a BB rating on the Republic of Paraguay’s unsubordinated issuance of $600 million bonds due in 2026.

The proceeds will be used to finance new infrastructure and investments and refinance existing debt.

The long-term rating on Paraguay remains at BB with a positive outlook.

The ratings reflect the country’s sound economic performance, anchored by prudent macroeconomic policy and strengthening economic institutions, as well as steps it is taking to boost infrastructure, S&P said.

These factors are balanced by Paraguay’s still-developing political institutions that will continue to challenge the government’s ability to implement its agenda, the agency said.

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