Uruguay Debt Management Unit

About the Debt Management Unit 

The Debt Management Unit (DMU) was created at the Ministry of Economy and Finance in 2005, seeking to develop an independent administration of the Government's financial obligations and cashflows.

The main objective of the DMU is to assure the Government's financing at the lowest possible cost given risk exposure parameters, based on a solid operational capacity, updated research methods and a proactive approach to the sources of funding.

Fitch Revises Uruguay's Rating Outlook to Positive; Affirms 'BB+' 

April 24^th, 2012. Fitch Ratings has revised the Rating Outlook on Uruguay's Foreign and Local Currency Issuer Default Ratings (IDRs) to Positive from Stable. In addition, Fitch affirms the following ratings:

• Foreign Currency IDR at 'BB+';
• Local Currency IDR at 'BBB-';
• Short-term IDR at 'B';
• Country Ceiling at 'BBB'.

The Rating Outlook is Positive. Click here to read the press release.

DBRS Upgrades Uruguay to BB (high), Trends Remains Positive

April 4^th, 2012. DBRS, Inc. (DBRS) has upgraded the ratings on the long-term foreign and local currency debt of the Oriental Republic of Uruguay to BB (high) from BB, and maintained the positive trends on both ratings. The Positive trends reflect DBRS's assessment that the ratings could be raised to investment grade if fiscal discipline is sustained and public debt ratios continue on a downward trajectory. Click here to read the press release. You can also access to the Rating Report of DBRS by clicking here.

Uruguay Raised to Investment Grade by S&P on Increasing Ability to Withstand External Shocks, Outlook Stable

April 3^rd, 2012. Standard & Poor's Ratings Services upgraded its long-term foreign and local currency ratings on the Oriental Republic of Uruguay to BBB- from BB+. Standard and Poor's also upgraded its short-term foreign and local currency ratings to A-3 from B on the Republic. The outlook on the long-term ratings is stable. Standard & Poor's also changed its transfer and convertibility assessment on Uruguay to BBB+ from BBB. Click here to read the press release.

Ministry of Economy and Finance and the Central Bank of Uruguay announced joint venture debt swap

March 16, 2012. You can access the results of the operation by clicking here(only available in spanish).

March 13, 2012. Replacing the Annex to Communication 2012/040. You can access the Annex by clicking here.

March 9, 2012. The Central Bank of Uruguay and the Ministry of Economy and Finance announced today a joint operation, in order to "provide liquid securities, who can serve as benchmarks for the local market, advancing the process of de-dollarization of debt Central Government and strengthen the participation of the Treasury in the local market through deeper emission".

The operation is performed by the special tender Treasury Notes in nominal pesos and CPI- linked bonds by Decree No. 65/012 and Resolution of the Ministry of Economy and Finance of March 8, 2012. These Treasury Notes in Uruguayan pesos and indexed units may be integrated into national currency, U.S. dollars and securities issued by the Central Bank of index-linked and Uruguayan Pesos, whose remaining term is no more than 3 years.

You can access the Information Memorandum of the operation here and you can access the Prospectus by clicking here (only available in spanish).

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