Fitch Rates Global Bond Issued by Panama at ''BBB'

The grading by Fitch corresponds to a recent bond issue of $750 million placed by Panama on the international market.

Tuesday, April 23, 2013

This rating of "BBB" is consistent with the Issuer Default Rating” (IDR) of a stable outlook for the placement.

The rating may be sensitive to any changes in the IDR in foreign currency long term in Panama .

Fitch affirmed Panama's ratings on May 31, 2012 at "BBB".

More on this topic

El Salvador: Risk Rating Confirmed

June 2019

"The 'B-' rating reflects the recent history of local currency defaults, as well as the political uncertainties influencing congressional approval of key economic reform measures."

This is the second consecutive year that the agency decided not to change the country's rating, as Fitch Ratings reported a year ago that it had decided to maintain the rating of foreign currency debt at "B-", and on that occasion argued that political tensions made it difficult to reach agreements on government financing.

Risk Perception and High Financial Cost

January 2019

The governments of Costa Rica and Nicaragua will face greater challenges in obtaining financing in external markets, because of the lowering of their risk ratings by international agencies.

Arguing that Costa Rica reflects consistently large fiscal deficits, short-term financing needs because of a strong repayment schedule and budget financing constraints, Fitch Ratings reported on January 15 that the country's long-term foreign currency issuer default rating was downgraded from BB to B+.

S&P Downgrades Nicaragua

November 2018

Arguing that the country's fiscal and financial profiles have weakened, Standard & Poor´s downgraded from B to B- the negative outlook for Nicaragua's foreign currency debt.

The negative outlook reflects a greater than one of every three probabilities of a downgrade in the next 12 months because of possible additional pressure on the balance of payments or the domestic financial system in dollar terms, given the government's limited foreign exchange financing options.

El Salvador: Debt Rating Confirmed

June 2018

Fitch Ratings has kept the debt rating in foreign currency at "B-", arguing that political tension has been reduced following the pension reform approved in October last year and the budget passed in January of this year.

Fitch Ratings-New York-13 June 2018: Fitch Ratings has affirmed El Salvador's long-term, foreign-currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. 

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