23.10.202501:57:24UTC+00S&P Upgrades Costa Rica’s Sovereign Ratings to BB

On Wednesday, S&P Global Ratings elevated Costa Rica's long-term sovereign credit ratings for both foreign and local currencies, moving from 'BB-' to 'BB', and assigned a stable outlook. This upgrade reflects enhanced external liquidity, bolstered by robust exports, consistent foreign investments, increased foreign exchange reserves, and access to flexible credit facilities from the International Monetary Fund (IMF) and other global lenders. S&P anticipates Costa Rica's GDP to grow by 4.2% in 2025, with a subsequent moderation to 3.5% during the 2026–2028 period, largely fueled by the dynamism in its free-trade zones. In June, the IMF approved a USD 1.5 billion two-year precautionary credit line to fortify Costa Rica’s defenses against external challenges, attributing this decision to the nation's strong policy frameworks. Meanwhile, Moody's has assigned Costa Rica a credit rating of Ba2, also maintaining a stable outlook.