# Paraguay credit rating and banking stability

> Live situation record from CLSTR: https://clstr.news/situations/paraguay-credit-rating-and-banking-stability
> Updated: 2026-10-19T15:56:46.000Z. Sources: 9. Developments: 2.

Fitch Ratings has maintained its assessment of Paraguay’s sovereign credit rating at ‘BB+’ with a positive outlook. While acknowledging strong economic growth and macroeconomic stability, the agency cited concerns regarding institutional weakness, corruption, the rule of law, and fiscal credibility. This rating keeps the nation one notch below investment grade, distinguishing Fitch from Moody’s and S&P Global Ratings.

In the financial sector, Fitch reaffirmed the long-term foreign and local currency credit rating of ueno bank at BB, with a viability rating of bb. Although the bank shows stable profitability and healthy asset quality, Fitch revised the bank’s outlook from stable to negative. This shift is due to rapid balance sheet growth putting pressure on capital levels. To stabilize the outlook, the bank must moderate its growth and maintain its Fitch Core Capital indicator above 13%.

## Timeline

### 2026-10-19: ueno bank receives BB credit rating reaffirmation from Fitch

Fitch Ratings reaffirmed ueno bank's BB credit rating in Paraguay but shifted its outlook to negative due to rapid growth pressures on capital and intangible assets.

7 sources. https://clstr.news/cluster/ueno-bank-receives-bb-credit-rating-reaffirmation-from-fitch

### 2026-10-02: Fitch maintains Paraguay’s BB+ rating despite strong growth

Fitch Ratings maintained Paraguay’s ‘BB+’ rating with a positive outlook, citing strong growth but warning of fiscal credibility issues, corruption, and institutional weaknesses.

2 sources. https://clstr.news/cluster/fitch-maintains-paraguays-bb-rating-despite-strong-growth

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Cite as: Paraguay credit rating and banking stability. CLSTR, https://clstr.news/situations/paraguay-credit-rating-and-banking-stability