S&P Global Ratings affirmed on May 7, 2019 its ‘BBB’ long-term foreign and local currency sovereign credit ratings on Uruguay. In addition, S&P affirmed the ‘A-2’ short-term foreign and local currency ratings. The outlook on the long-term ratings remains stable.
The stable outlook reflects the view of continuity in key economic policies after national elections later this year. S&P expect that Uruguay will continue to sustain GDP growth, with per capita GDP likely expanding by 1.8% per year during 2019-2021.
S&P ratings on Uruguay are supported by its track record of prudent and predictable economic policies and its well-established institutions, which have underpinned consistent economic growth over the past 16 years.