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Nicaragua Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
B2 Stable | B+ Stable | B Stable | NR — | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Oct 23, 2024 | S&P | B | Stable | B+ | Stable | |
| May 30, 2024 | Fitch | B- | Positive | B | Stable | |
| Mar 15, 2024 | Moody's | B3 | Stable | B2 | Stable | |
| Jun 05, 2023 | Fitch | B- | Stable | B- | Positive | |
| Oct 25, 2022 | S&P | B- | Stable | B | Stable | |
| Jun 11, 2021 | Fitch | B- | Negative | B- | Stable | |
| Jun 17, 2020 | Fitch | B- | Stable | B- | Negative | |
| Feb 14, 2020 | Moody's | B2 | Negative | B3 | Stable | |
| Nov 22, 2019 | Fitch | B- | Negative | B- | Stable | |
| Nov 08, 2019 | S&P | B- | Negative | B- | Stable | |
| Jan 25, 2019 | Moody's | B2 | Stable | B2 | Negative | |
| Nov 27, 2018 | Fitch | B | Negative | B- | Negative | |
| Nov 09, 2018 | S&P | B | Negative | B- | Negative | |
| Jul 23, 2018 | S&P | B+ | Negative | B | Negative | |
| Jun 22, 2018 | Fitch | B+ | Stable | B | Negative | |
| Jun 13, 2018 | Moody's | B2 | Positive | B2 | Stable | |
| Jun 08, 2018 | S&P | B+ | Stable | B+ | Negative | |
| Jul 20, 2017 | Moody's | B2 | Stable | B2 | Positive | |
| Feb 11, 2016 | S&P | NR | — | B+ | Stable | |
| Dec 16, 2015 | Fitch | NR | — | B+ | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CC | CC |
C | CC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Nicaragua’s current credit rating?
Nicaragua’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Nicaragua’s credit risk.
Has Nicaragua’s credit rating changed recently?
This page lists the latest rating and outlook actions for Nicaragua, showing when each agency last reviewed or changed its assessment.
Why does Nicaragua’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Nicaragua's bond yields, currency, and equity flows as investors reassess risk.
How does Nicaragua’s rating compare to other countries?
You can explore how Nicaragua ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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