Fitch Rates Paraguay's USD1 Billion 2044 Bonds 'BB-'

NEW YORK--()--Fitch Ratings has assigned a 'BB-' rating to Paraguay's USD1 billion bonds maturing Aug. 11, 2044. The bonds have a coupon rate of 6.1%.

The net proceeds from the issuance of the bonds will be used to finance infrastructure and energy projects, as well as to provide support to certain sectors of the economy.

KEY RATING DRIVERS

The rating is in line with Paraguay's long-term foreign currency Issuer Default Rating (IDR) of 'BB-' with a Positive Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Paraguay's long-term foreign currency IDR. On Jan. 31, 2014, Fitch affirmed Paraguay's long-term foreign currency IDR at 'BB-' and revised the Outlook to Positive from Stable.

Additional information is available at 'www.fitchratings.com'.

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=846535

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Contacts

Fitch Ratings
Primary Analyst
Santiago Mosquera
Director
+1-212 908 0271
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Cesar Arias
Director
+1-212-908-0358
or
Committee Chairperson
Richard Fox
Senior Director
+44-20-3530-1444
or
Media Relations
Elizabeth Fogerty, New York, +1 212-908-0526
elizabeth.fogerty@fitchratings.com

Sharing

Contacts

Fitch Ratings
Primary Analyst
Santiago Mosquera
Director
+1-212 908 0271
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Cesar Arias
Director
+1-212-908-0358
or
Committee Chairperson
Richard Fox
Senior Director
+44-20-3530-1444
or
Media Relations
Elizabeth Fogerty, New York, +1 212-908-0526
elizabeth.fogerty@fitchratings.com