Published by Fitch Ratings

Fitch Ratings, the renowned credit risk rating agency, affirmed Nicaragua's long-term sovereign debt rating in domestic and foreign currency at "B-". It also improved the rating outlook from negative to stable.

On the other hand, it affirmed the rating of short-term sovereign debt in national and foreign currency at "B” and kept the country ceiling at "B-". This rating action occurs within the framework of the annual review of the sovereign rating that Fitch grants to Nicaragua.

According to Fitch, the stabilization of Nicaragua's rating outlook reflects greater than expected resilience, the first signs of economic recovery from a prolonged period of economic contraction, and pandemic-related multilateral disbursements that have eased restrictions on short-term financing.

In a statement, Fitch highlights that, in the 1st Quarter of 2021, real GDP grew 3.4 percent year-on-year. Thus, projecting that the economy will grow 3.8 percent this year, supported by higher exports and fiscal expansion.

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