Moody’s gives Ba1 to Paraguay bond

Moody's Investors Service said it assigned a provisional Ba1 rating to Paraguay's global bond, the same level as the issuer rating.

In making this decision, Moody's said it was guided by the following considerations: (a) The bond constitutes direct, general, unconditional and unsubordinated external debt of the Republic of Paraguay and will rank equally with all other unsubordinated external debt of the country; and (b) Moody's assessment, based on legal opinion and Paraguay's supreme court ruling, that the new bond is legal and enforceable, according to Paraguay's constitution and budget laws currently in effect.

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