Canadian rating agency DBRS Morningstar upgraded Uruguay s foreign currency sovereign debt score from BBB Low to BBB as a result of Montevideo s “substantial improvement” in the country s fiscal outlook, it was reported Tuesday.
RIO DE JANEIRO, BRAZIL – Uruguay issued this Thursday a new global bond in Uruguayan pesos for the equivalent of US$1.166 billion and reopened a bond in dollars for US$574 million both with a 10-year maturity.
This was announced at a press conference by the country’s Minister of Economy and Finance, Azucena Arbeleche, who described the debt issuance as “successful” and stressed that it demonstrated investors’ confidence in the Uruguayan economy.
Uruguay issues two new global bonds for US$1.166 billion and US$574 million. (Photo internet reproduction)
Regarding the bond in local currency, which she considered the “star instrument”, Arbeleche detailed that it is an issue for the equivalent in nominal pesos of US$1.166 billion with an interest rate of 8.25% per annum, which, she added, is the lowest in the historical comparison of Uruguay’s issues.