THE JAPANESE RATING AGENCY R&I MAINTAINED THE INVESTMENT GRADE FOR URUGUAY
The agency kept the rating at BBB and changed the rating outlook from stable to positive.
The Japanese financial risk rating agency, R&I, maintained the investment grade for the Uruguayan economy and improved its outlook from stable to positive.
The report, which was published on 5 February, highlights Uruguay's potential to be a business hub for the region. It also recognises the country for its position among the best in Latin America in areas such as democracy, the absence of corruption, adherence to the rule of law and its strong ESG credentials, as well as its socially stable location with a high level of income.
Considering these and other factors, R&I affirmed the rating of the foreign exchange issuers at BBB and changed the rating outlook to positive.
R&I also pointed out that Uruguay receives the highest rating in Latin America in terms of political and social stability. The agency also stressed environmental aspects, such as the fact that most of the country's energy is generated through renewable sources.