Credit ratings are assigned to sovereigns and businesses by international credit rating agencies. A credit rating measures the relative risk that an entity (Government or company) will fail to meet its financial commitments, such as interest payments and repayment of principal, on a timely basis.

These relative risks are mapped into discrete rating notches that are expressed in terms of alphabetic identifiers. For example, from the most creditworthy to the least, Fitch and S&P use AAA, AA, A, BBB for investment grade long-term credit risk, and BB, B, CCC, CC, C, and D for non-investment grade long-term credit risk. The long-term foreign-currency rating is the most commonly used by investors and analysts. In the following table users can find the updated credit rating for long-term Uruguayan bonds.

Excel Table: Credit Rating Track Record

(*) Unsolicited. 

Source: Credit Rating Agencies

Rating Agencies Credit Analysis and Press Releases:

Standard and Poors

Moody's

Fitch Ratings

DBRS Morningstar

Rating and Investment

HR Ratings

JCR Agency

Rating Methodologies:

Standard and Poors

Fitch Ratings