Uruguay — Sovereign Signal
BT-SFS 72.4/100 · BBB+ · 80 bps over Treasuries
Score and market snapshot
Uruguay trades 7 bps wide of its fundamentals fit (fitted spread 73 bps).
| Field | Value |
|---|---|
| BT-SFS score | 72.4 / 100 |
| Rank | 4 of 51 |
| Composite rating | BBB+ |
| Agency ratings | Moody's Baa1 · S&P BBB+ · Fitch BBB |
| Benchmark USD bond | URUGUA 5.75 34 |
| Spread over Treasuries | 80 bps |
| Yield to worst | 4.95% |
| Duration | 6.1y |
Pillar scores
| Pillar | Score (0-100) |
|---|---|
| Fiscal | 46.7 |
| External | 76.7 |
| Macro | 71.3 |
| Institutions | 100.0 |
The nine metrics behind the score
| Metric | Pillar | Raw value | Score | Source | Year |
|---|---|---|---|---|---|
| Current account / GDP | External | -0.8% | 60.4 | IMF | 2026 |
| International reserves, months of imports | External | 7.7 mo | 88.9 | World Bank | 2024 |
| General government debt / GDP | Fiscal | 66.8% | 37.5 | IMF | 2026 |
| Interest expense / revenue | Fiscal | 8.1% | 70.8 | IMF | 2026 |
| Primary balance / GDP | Fiscal | -1.5% | 29.2 | IMF | 2026 |
| WGI institutional composite | Institutions | 1.06 | 100.0 | WGI composite | 2024 |
| Real GDP growth | Macro | 1.8% | 16.7 | IMF | 2026 |
| GDP per capita, USD | Macro | $27,608 | 87.5 | IMF | 2026 |
| Inflation stress | Macro | 4.0% | 100.0 | IMF | 2026 |
Score history
Applying the current methodology to historical sources, Uruguay moves from 72.7 in 2016 to 72.4 in 2026 (-0.3 points over ten years).
Default and restructuring registry
No bond default or restructuring events in the registry window.
Frequently asked questions
What is Uruguay's sovereign credit score?
Uruguay scores 72.4/100 on the BT Sovereign Fundamentals Score, ranking 4 of 51 sovereigns covered. The score is built from nine public IMF and World Bank metrics across fiscal, external, macro, and institutions pillars.
Which Uruguay USD bond does BondTerminal track?
URUGUA 5.75 34 (ISIN US760942BE11), the near-5-year USD benchmark, currently 80 bps over Treasuries with a 4.95% yield to worst.
Is Uruguay trading wide or tight of its fundamentals?
Uruguay trades 7 bps wide of its fundamentals fit (fitted spread 73 bps).
Related
- All 51 sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — every metric, weight, and transformation, in public.
- Uruguay bond directory — every Uruguay USD bond BondTerminal tracks.
- Uruguay vs Chile — fundamentals and spreads head to head.
- Uruguay vs Paraguay — fundamentals and spreads head to head.
- Peru — regional peer, BT-SFS 65.0 · 98 bps.
- Costa Rica — regional peer, BT-SFS 61.0 · 118 bps.
- Trinidad and Tobago — regional peer, BT-SFS 56.8 · 194 bps.