Credit Rating Report

DBRS Morningstar Confirms Uruguay at BBB, Stable Trend

Sovereigns

Summary

DBRS, Inc. (DBRS Morningstar) confirmed the Oriental Republic of Uruguay’s (Uruguay) Long-Term Foreign and Local Currency – Issuer ratings at BBB. At the same time, DBRS Morningstar confirmed Uruguay’s Short-Term Foreign and Local Currency – Issuer ratings at R-2 (high). The trend on all ratings is Stable.

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