S&P Global Ratings lowered on Friday 9 November 2018 Nicaragua's sovereign credit rating to "B-" from "B" with negative outlook. It is the second time in less that four months that S&P cut the country's rating. The move reflected a deterioration in fiscal and financial conditions generated by the current political crisis. In particular, limited access to financing with declining foreign exchange reserves highlights the vulnerability to potential external liquidity pressures. Additionally, the agency warned that the rating could be lowered within the next 12 months if the government fails to stanch the loss of dollar liquidity in the economy. S&P expect Nicaragua's fiscal position to weaken as the government will run larger fiscal deficits in 2018-2019 because of the economic downturn and the drop in tax revenues. Moody's credit rating for Nicaragua was last set at B2 with stable outlook. Fitch's credit rating for Nicaragua was last reported at B with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Nicaragua thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Nicaragua as reported by major credit rating agencies.



AgencyRatingOutlookDate
TE30 Negative Nov 09 2018
TE30 Negative Nov 09 2018
S&PB- Negative Nov 09 2018
TE31 Negative Jul 23 2018
S&PB Negative Jul 23 2018
TE31 Negative Jul 23 2018
TE31 Negative Jul 23 2018
TE33 Negative Jun 22 2018
TE33 Negative Jun 22 2018
TE33 Negative Jun 22 2018
FitchB Negative Jun 22 2018
TE33 Negative Jun 13 2018
Moody'sB2 Stable Jun 13 2018
TE33 Negative Jun 13 2018
TE33 Negative Jun 13 2018
TE33 Stable Jun 08 2018
TE33 Stable Jun 08 2018
TE33 Stable Jun 08 2018
S&PB+ Negative Jun 08 2018
TE33 Stable Jul 20 2017
Moody'sB2 Positive Jul 20 2017
TE33 Stable Jul 20 2017
TE33 Stable Jul 20 2017
TE33 Stable Apr 16 2016
TE33 STABLE Apr 16 2016
TE33 Stable Apr 16 2016
TE33 Stable Apr 16 2016
TE32 Stable Feb 11 2016
TE32 Stable Feb 11 2016
TE32 Stable Feb 11 2016
S&PB+ Stable Feb 11 2016
FitchB+ Stable Dec 16 2015
TE30 Stable Dec 16 2015
TE30 Stable Dec 16 2015
TE30 Stable Dec 16 2015
TE25 Stable Jul 10 2015
TE25 Stable Jul 10 2015
TE25 Stable Jul 10 2015
Moody'sB2 Stable Jul 10 2015
TE25 Stable Apr 22 2014
TE25 Stable Apr 22 2014
TE25 Stable Apr 22 2014
TE25 Stable Mar 21 2014
TE25 Stable Mar 21 2014
TE25 Stable Mar 21 2014
TE25 Stable Oct 15 2013
TE25 Stable Oct 15 2013
TE25 Stable Oct 15 2013
TE25 Stable Jul 18 2013
TE25 Stable Jul 18 2013
TE25 Stable Jul 18 2013
TE25 Stable Jun 10 2013
TE25 Stable Jun 10 2013
TE25 Stable Jun 10 2013
TE25 Stable Nov 28 2011
TE25 Stable Nov 28 2011
TE25 Stable Nov 28 2011
TE25 Stable Aug 05 2011
TE25 Stable Aug 05 2011
TE25 Stable Aug 05 2011
TE25 Stable Aug 02 2011
TE25 Stable Aug 02 2011
TE25 Stable Aug 02 2011
TE25 Stable Jul 14 2011
TE25 Stable Jul 14 2011
TE25 Stable Jul 14 2011
TE25 Stable Jul 13 2011
TE25 Stable Jul 13 2011
TE25 Stable Jul 13 2011
TE25 Stable Apr 18 2011
TE25 Stable Apr 18 2011
TE25 Stable Apr 18 2011
TE20 Stable May 26 2010
TE20 Stable May 26 2010
TE20 Stable May 26 2010
Moody'sB3 Stable May 26 2010
Moody'sCaa1 Stable Jun 30 2003
TE30 Stable Jun 30 2003
TE30 Stable Jun 30 2003
TE30 Stable Jun 30 2003
TE30 Stable Sep 21 2000
TE30 Stable Sep 21 2000
TE30 Stable Sep 21 2000
Moody'sB2 Stable Mar 27 1998


 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 60
B- B3 B 28
B B2 B B 31
B1 B+ 35
BBB+ BBB- 60
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 50
BB+ Baa3 52
B+ B2 BB- 36
BB- Ba3 BB- 40
SD Caa3 15
B B3 B 26
AA Aa3 AA- AA (high) 88
B- B3 20
B+ N/A 30
A+ A2 N/A 78
BB- Ba3 BB- 41
B B3 28
A- A2 72
BB- Ba2 BB- BB (low) 42
BBB- Baa2 BBB 58
B 25
N/A B2 30
B B2 B 30
AAA Aaa AAA AAA 99
B B 30
Aa3 85
A+ A1 A N/A 80
A+ A1 A+ A (high) 81
BBB- Baa2 BBB BBB 58
CCC+ B3 22
BB- Ba2 BB 43
BB+ Ba2 BB+ 48
Caa2 15
BBB- Ba2 BBB- BB 48
AA- A1 AA- 81
AAA Aaa AAA AAA 100
BB- Ba3 BB- 38
B- B3 B- 26
B B3 B 28
CCC+ B3 B- 21
AA- A1 AA- AA (low) 81
B B1 B 31
AA Aaa AAA AAA 98
B+ Ba3 35
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 B 26
BB- Ba2 BB- 41
AAA Aaa AAA AAA 100
B B3 B 26
B+ B3 BB- B (high) 30
SD
BB- Ba1 BB 46
BB- B1 35
AA+ Aa2 AA+ 95
BBB- Baa3 BBB- 55
A A3 A 73
BBB- Baa2 BBB- BBB 56
BBB- Baa2 BBB 56
B- Caa1 B- 25
A+ A2 A+ A (high) 76
N/A Aa2 92
AA- A1 A+ 80
BBB Baa3 BBB BBB (high) 62
Ba3 B+ 38
B B3 B 28
A+ A1 A A 77
B+ B1 37
BBB- Baa3 BBB 56
B+ B2 B+ 35
AA Aa2 AA 90
NR B2 30
A A3 A- A (low) 70
B- B3 B- 28
B+ 35
AAA 100
A A3 A- A (low) 71
AAA Aaa AAA AAA 100
Aa3 AA 85
BB- BB 42
A- A3 A- 70
B2 B+ 32
A- A3 A+ A (high) 73
Baa1 65
BBB+ A3 BBB+ BBB (high) 65
B3 25
B B3 B 26
B+ B1 35
BBB- 55
BBB- Ba1 BBB- 53
SD Caa3 RD 12
Ba1 BB+ 52
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B2 B 30
B B2 B+ 31
AAA Aaa AAA AAA 99
BB Baa3 BBB- 53
B B3 B 28
BBB Baa2 BBB 60
B B2 32
BB Ba1 BB 46
BBB+ A3 BBB+ N/A 65
BBB Baa2 BBB 60
A- A2 A- A 71
BBB- Baa3 BBB BBB 56
D 0
AA- Aa3 AA- 85
B- Caa2 CC 23
BBB- Baa3 BBB- 55
BBB- Ba1 BBB- 51
B B2 B+ 31
BBB- 55
A- A1 A+ 78
B+ Ba3 37
BB Ba3 BB 38
BB- 40
AAA Aaa AAA AAA 98
A+ A2 A+ A (high) 78
A+ Baa1 A- A 72
B3 25
BB Baa3 BB+ 50
AA Aa2 AA- 86
A- Baa1 A- A 68
B+ B1 B+ 35
B3 25
B B2 B- 28
B2
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3
B1
BBB+ Baa1 BBB+ 65
BBB+ Ba1 57
N/A B2 B+ 35
B+ Ba3 BB BB (high) 43
B B2 B+ 33
B- Caa2 B- 20
AA Aa2 AA 90
AA Aa2 AA AAA 93
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
SD C RD 12
BB- Ba3 BB 40
B- Caa1 B- 34


Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com


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