Economy Minister Marcelo Montenegro said the latest grading given to Bolivia by Fitch Ratings entailed a biased vision according to which the country's total public debt, internal and external, represented 71.7% of the Gross Domestic Product (GDP) when it actually amounted to 46%.
Paraguay was given a BB+ rating in Fitch's latest report, which is one step away from investment grade. Although in Asunción the South American country's Economy Ministry highlighted the achievement, the agency also warned about challenges in terms of credibility.
Fitch has downgraded the United States Government's credit rating following concerns over the state of the country's finances and its debt burden.
The worldwide-known risk rating agency Fitch Thursday released a new report in which the outlook for Brazil's public debt has been moved up from May 2020's negative grading after the onset of the COVID-19 pandemic.
Credit rating agency Fitch improved its prospects for Brazil's primary deficit and overall debt in 2021 but also pointed out several uncertainties among which sustainability of the fiscal front, possible political instability, and the approval of the new food subsidies to help the vulnerable population.
Fitch Ratings forecasts Latin American economies will rebound this year from the 2020 recession but risks remain in particular because of the evolution of the COVID-19 pandemic.
Fitch Ratings, one the world's leading credit rating agency has confirmed Uruguay's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-', however with a Negative Outlook, despite the country faring much better than its neighbors.
The Brazilian government’s commitment to getting public finances in order and maintaining strict fiscal discipline will lead to the country’s sovereign credit rating being upgraded, Treasury Secretary Mansueto Almeida said on Thursday.
Moody's on Friday downgraded the outlook for Britain's debt, citing mounting policy challenges amid the Brexit debate. The agency cut the outlook to negative from stable but kept the debt at the investment-grade Aa2.
Brazil’s push to overhaul its costly social security system is a welcome step toward healing public finances and the economy, but is not enough to stabilize public debt or trigger a positive review on the country’s credit rating, directors at rating agency Fitch said on Thursday.