Panamá Credit Ratings & Outlooks

País	Moody's	S&P	Fitch	DBRS	Scope Ratings
Panamá	Baa3 Stable	BBB- Stable	BB+ Stable	NR	NR

Historia del Rating Crediticio.

País	Date of Change	Agencia de Rating	Rating Anterior	Pronóstico Anterior	Rating Actual	Current Outlook
Panamá	nov. 26, 2024	S&P	BBB	Negative	BBB-	Stable
Panamá	mar. 28, 2024	Fitch	BBB-	Negative	BB+	Stable
Panamá	nov. 07, 2023	S&P	BBB	Stable	BBB	Negative
Panamá	oct. 31, 2023	Moody's	Baa2	Negative	Baa3	Stable
Panamá	sep. 29, 2023	Fitch	BBB-	Negative	BBB-	Negative
Panamá	ago. 11, 2023	S&P	BBB	Negative	BBB	Stable
Panamá	oct. 25, 2022	Moody's	Baa2	Stable	Baa2	Negative
Panamá	ago. 04, 2021	S&P	BBB	Stable	BBB	Negative
Panamá	mar. 17, 2021	Moody's	Baa1	Negative	Baa2	Stable
Panamá	feb. 03, 2021	Fitch	BBB	Negative	BBB-	Negative
Panamá	nov. 24, 2020	S&P	BBB+	Negative	BBB	Stable
Panamá	oct. 20, 2020	Moody's	Baa1	Stable	Baa1	Negative
Panamá	abr. 24, 2020	S&P	BBB+	Stable	BBB+	Negative
Panamá	feb. 06, 2020	Fitch	BBB	Stable	BBB	Negative
Panamá	abr. 29, 2019	S&P	BBB	Positive	BBB+	Stable
Panamá	mar. 08, 2019	Moody's	Baa2	Positive	Baa1	Stable
Panamá	jul. 02, 2018	S&P	BBB	Stable	BBB	Positive
Panamá	sep. 29, 2017	Moody's	Baa2	Stable	Baa2	Positive
Panamá	oct. 31, 2012	Moody's	Baa3	Positive	Baa2	Stable
Panamá	jul. 02, 2012	S&P	BBB-	Positive	BBB	Stable

Tabla de Claves

Grado	Moody's	S&P	Fitch	DBRS	Scope Ratings
Principal	Aaa	AAA	AAA	AAA	AAA
Grado Alto	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Grado Medio Superior	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Grado Medio Inferior	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Grado de No Inversión Especulativo	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CCC	CC
Extremely Speculative Grade			C	CCC	C
En Impago con Pocas Perspectivas de Recuperación		CD	RD	RD
En Impago		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
No Calificado.	NR	NR	NR	NR	NR

Preguntas frecuentes

What is Panamá’s current credit rating?

Panamá’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Panamá’s credit risk.

Has Panamá’s credit rating changed recently?

This page lists the latest rating and outlook actions for Panamá, showing when each agency last reviewed or changed its assessment.

Why does Panamá’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Panamá's bond yields, currency, and equity flows as investors reassess risk.

How does Panamá’s rating compare to other countries?

You can explore how Panamá ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.

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