Uruguay Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Baa1 Stable | BBB+ Stable | BBB Stable | BBB Stable | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Mar 15, 2024 | Moody's | Baa2 | Positive | Baa1 | Stable | |
| Jun 07, 2023 | Fitch | BBB- | Stable | BBB | Stable | |
| May 17, 2023 | Moody's | Baa2 | Stable | Baa2 | Positive | |
| Apr 26, 2023 | S&P | BBB | Stable | BBB+ | Stable | |
| Nov 22, 2022 | DBRS | BBB (low) | Positive | BBB | Stable | |
| Dec 15, 2021 | Fitch | BBB- | Negative | BBB- | Stable | |
| Nov 24, 2021 | DBRS | BBB (low) | Stable | BBB (low) | Positive | |
| Oct 05, 2018 | Fitch | BBB- | Stable | BBB- | Negative | |
| Jul 13, 2017 | Moody's | Baa2 | Negative | Baa2 | Stable | |
| May 30, 2017 | S&P | BBB | Negative | BBB | Stable | |
| Jun 22, 2016 | Moody's | Baa2 | Stable | Baa2 | Negative | |
| Jun 06, 2016 | S&P | BBB | Stable | BBB | Negative | |
| Jun 05, 2015 | S&P | BBB- | Stable | BBB | Stable | |
| May 29, 2014 | Moody's | Baa3 | Positive | Baa2 | Stable | |
| May 03, 2013 | DBRS | BB (high) | Positive | BBB (low) | Stable | |
| Mar 07, 2013 | Fitch | BB+ | Positive | BBB- | Stable | |
| Jul 31, 2012 | Moody's | Ba1 | Positive | Baa3 | Positive | |
| Apr 24, 2012 | Fitch | BB+ | Stable | BB+ | Positive | |
| Apr 04, 2012 | DBRS | BB | Positive | BB (high) | Positive | |
| Apr 03, 2012 | S&P | BB+ | Stable | BBB- | 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 | CCC | CC |
C | CCC | 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 Uruguay’s current credit rating?
Uruguay’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 Uruguay’s credit risk.
Has Uruguay’s credit rating changed recently?
This page lists the latest rating and outlook actions for Uruguay, showing when each agency last reviewed or changed its assessment.
Why does Uruguay’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Uruguay's bond yields, currency, and equity flows as investors reassess risk.
How does Uruguay’s rating compare to other countries?
You can explore how Uruguay 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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