Costa Rica — Sovereign Signal
BT-SFS 54.3/100 · BB · 120bps over Treasuries
Score and market snapshot
Costa Rica trades 14bps tight of its fundamentals fit (fitted spread 134bps).
| Field | Value |
|---|---|
| BT-SFS | 54.3 / 100 |
| Rank | 17 of 51 |
| Composite rating | BB |
| Agency ratings | Moody's Ba2 · S&P BB · Fitch BB |
| Benchmark USD bond | COSTAR 6.55 34 |
| Spread over Treasuries | 120bps |
| Yield to worst (S.A.) | 6.27% |
| Duration | 5.2y |
Pillar scores
| Pillar | Score (0-100) |
|---|---|
| Fiscal | 41.6 |
| External | 20.3 |
| Macro | 70.1 |
| Institutions | 83.9 |
The ten metrics behind the score
| Metric | Pillar | Raw value | Score | Source | Year |
|---|---|---|---|---|---|
| Reserves, months of imports | External | 4.6 mo | 20.3 | World Bank | 2025 |
| General government debt / GDP | Fiscal | 61.1% | 31.1 | IMF | 2026 |
| FX public debt / GDP | Fiscal | 20.7% | 66.7 | World Bank/IMF QPSD | 2026 |
| Net interest / revenue | Fiscal | 31.7% | 6.4 | IMF | 2026 |
| Primary balance / GDP | Fiscal | 0.9% | 65.6 | IMF | 2026 |
| Governance (WGI GE + RQ) | Institutions | 62.8 | 76.9 | WGI | 2025 |
| Inflation track record | Institutions | 4.0% | 94.4 | IMF | 1997–2026 (h=10) |
| Real GDP growth, centred 3-year | Macro | 3.9% | 55.0 | IMF | 2025–2027 |
| GDP per capita, USD | Macro | $20,299 | 94.3 | IMF | 2026 |
| Growth volatility, 10-year | Macro | 3.0pp | 47.8 | IMF | 2016–2025 |
Score history
Applying the current methodology to historical sources, Costa Rica moves from 55.4 in 2016 to 54.3 in 2026 (-1.0 points over ten years).
Default and restructuring registry
No bond default or restructuring events in the registry window.
Frequently asked questions
What is Costa Rica's sovereign credit score?
Costa Rica scores 54.3/100 on the BT Sovereign Fundamentals Score, ranking 17 of 51 sovereigns covered. The score is built from ten public IMF and World Bank metrics across fiscal, external, macro, and institutions pillars.
Which Costa Rica USD bond does BondTerminal track?
COSTAR 6.55 34 (ISIN USP3699PGM34), the near-5-year USD benchmark, currently 120bps over Treasuries with a 6.27% yield to worst (S.A.).
Is Costa Rica trading wide or tight of its fundamentals?
Costa Rica trades 14bps tight of its fundamentals fit (fitted spread 134bps).