December 13, 2018 |
Fitch Ratings has lifted Paraguay to one notch below investment grade, citing the country's resistance to external shocks and its commitment to fiscal discipline.
Paraguay's long-term ratings now stand at BB+, up from BB, and the outlook has switched to stable from positive, Fitch said in a report.
The country has averaged economic growth of 4.3% per year over the past five years, despite the drop in commodity prices, a deep recession in Brazil and a sharp decline in the Argentine peso. Paraguay
Fitch upgrades the country to BB+, citing fiscal discipline and resistance to external shocks