Paraguay Raised to Investment Grade Rating by Moody’s on Growth
- Credit score upgraded to Baa3 from Ba1 by ratings company
- Dollar bonds among best performers in emerging markets for day
Paraguay’s gross domestic product expanded by 3.8% last year.
Photographer: Santi Carneri/BloombergThis article is for subscribers only.
Paraguay’s credit score was upped to investment grade by Moody’s Ratings, marking a victory for one of the fastest growing economies in South America.
The rating was upgraded to Baa3 from Ba1, putting Paraguay on the first rung of investment grade and on par with Panama and India. The ratings company cited the country’s efforts to stoke growth while making its economy more resilient to shocks.