Panama Close to “Investment Grade”

A 1% fiscal deficit in 2009 shows good management of the country’s public finances.

Friday, February 12, 2010

Obtaining such precious sovereign rating has been an objective of Panama for a long time, said Alberto Vallarino, Economy minsiter, explaining that “with such rating, the country could access other funding sources and attract new investors”.

He highlighted that 2009’s fiscal result was better than the original 2.5% estimate.

More on this topic

Fitch Affirms Panama's IDRs at 'BBB'

June 2012

Fitch has affirmed the Issuer Default Ratings (IDRs) and Country Ceiling for Panama as follows: Foreign currency IDR at 'BBB'; Local currency IDR at 'BBB'; Foreign currency short-term IDR at 'F3'; Country ceiling at 'A'.

Fitch Ratings-New York-31 May 2012: Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) and Country Ceiling for Panama as follows:

A Year After Costa Rica’s Investment Rating

September 2011

On 9 September 2010, Moody's raised Costa Rica’s sovereign credit rating from Ba1, speculative grade, to Baa3 investment grade rating with a stable outlook.

An analysis of the issue by Aldesa follows:

The agency acknowledged, among other things, a stronger national economy in the face of external shocks, a healthy position in terms of net international reserves, stability in foreign direct investment flows and a willingness to responsibly manage the fiscal deficit during the coming years.

Fitch Publishes Panama Sovereign Report

May 2010

On March 2010, Fitch Ratings raised Panama’s long-term foreign currency and local currency Issuer Default Ratings (IDRs) to 'BBB-' from 'BB+'.

The upgrades reflect a sustained improvement in public finances, underpinned by recent tax reforms, and the economy's resilience to the global financial crisis and associated recession.

Fitch has affirmed Guatemala's IDRs at BB+

July 2009

Fitch Ratings has affirmed Guatemala's local and foreign currency Issuer Default Ratings (IDRs) at 'BB+'. The Rating Outlooks on both ratings are Stable.

Guatemala's track record of macroeconomic stability, low public and external debt burdens, as well as the government's solid commercial debt repayment history continue to support the sovereign's ratings.

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