Paraguay Credit Ratings & Outlooks

País	Moody's	S&P	Fitch	DBRS	Scope Ratings
Paraguay	Ba1 Positive	BBB- Stable	BB+ Positive	NR	NR

Historia del Rating Crediticio.

País	Date of Change	Agencia de Rating	Rating Anterior	Pronóstico Anterior	Rating Actual	Current Outlook
Paraguay	dic. 17, 2025	S&P	BB+	Positive	BBB-	Stable
Paraguay	oct. 06, 2025	Fitch	BB+	Stable	BB+	Positive
Paraguay	ene. 08, 2025	S&P	BB+	Stable	BB+	Positive
Paraguay	feb. 01, 2024	S&P	BB	Stable	BB+	Stable
Paraguay	jul. 22, 2022	Moody's	Ba1	Stable	Ba1	Positive
Paraguay	dic. 11, 2018	Fitch	BB	Positive	BB+	Stable
Paraguay	dic. 14, 2017	Fitch	BB	Stable	BB	Positive
Paraguay	jun. 15, 2016	S&P	BB	Positive	BB	Stable
Paraguay	jun. 16, 2015	S&P	BB	Stable	BB	Positive
Paraguay	mar. 20, 2015	Moody's	Ba2	Positive	Ba1	Stable
Paraguay	ene. 29, 2015	Fitch	BB-	Positive	BB	Stable
Paraguay	jun. 11, 2014	S&P	BB-	Stable	BB	Stable
Paraguay	feb. 04, 2014	Moody's	Ba3	Stable	Ba2	Positive
Paraguay	ene. 31, 2014	Fitch	BB-	Stable	BB-	Positive
Paraguay	ene. 10, 2013	Fitch	NR		BB-	Stable
Paraguay	ene. 08, 2013	Moody's	B1	Stable	Ba3	Stable
Paraguay	ago. 29, 2012	S&P	BB-	Negative Watch	BB-	Stable
Paraguay	jun. 25, 2012	S&P	BB-	Stable	BB-	Negative Watch
Paraguay	ago. 30, 2011	S&P	B+	Positive	BB-	Stable
Paraguay	dic. 02, 2010	Moody's	B3	Positive Watch	B1	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 Paraguay’s current credit rating?

Paraguay’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 Paraguay’s credit risk.

Has Paraguay’s credit rating changed recently?

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

Why does Paraguay’s credit rating matter to investors?

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

How does Paraguay’s rating compare to other countries?

You can explore how Paraguay 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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