Fitch improves outlook for Uruguay

Fitch improves outlook for Uruguay

Fitch Ratings Revision Economy & Policy Bonds Debt Fixed Income Capital Markets Uruguay United States

Fitch Ratings said it has revised its outlook on Uruguay to stable from negative and also affirmed the country's long-term credit ratings at BBB-. "The revision... reflects [Uruguay's] fiscal resilience through the pandemic and ongoing improvement in the structural fiscal position," Fitch said in report on Wednesday. Uruguay's fiscal position has benefitted from higher-than-expected tax revenues and lower borrowing costs, slowing the "upward path" of debt to GDP, Fitch said. The BBB- ratings, me

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