S&P revised outlook to stable from negative; credit rating affirmed at BBB
May 30th, 2017. S&P revised its outlook on the Oriental Republic of Uruguay to stable from negative. At the same time, S&P affirmed its BBB long-term foreign and local currency sovereign credit ratings. In addition, S&P affirmed its A-2 short-term foreign and local currency ratings.
The stable outlook reflects S&Pr expectation of a gradual strengthening of the Uruguayan economy, which will support the country's income levels, revenue base, fiscal and monetary policy flexibility, and capacity to absorb debt.