Panama Credit Ratings & Outlooks

Pays	Moody's	S&P	Fitch	DBRS	Scope Ratings
Panama	Baa3 Stable	BBB- Stable	BB+ Stable	NR	NR

Historique des cotes de crédit

Pays	Date of Change	Agence de notation	Cote précédente	Outlook précédent	Cote actuelle	Current Outlook
Panama	nov. 26, 2024	S&P	BBB	Negative	BBB-	Stable
Panama	mars 28, 2024	Fitch	BBB-	Negative	BB+	Stable
Panama	nov. 07, 2023	S&P	BBB	Stable	BBB	Negative
Panama	oct. 31, 2023	Moody's	Baa2	Negative	Baa3	Stable
Panama	sept. 29, 2023	Fitch	BBB-	Negative	BBB-	Negative
Panama	août 11, 2023	S&P	BBB	Negative	BBB	Stable
Panama	oct. 25, 2022	Moody's	Baa2	Stable	Baa2	Negative
Panama	août 04, 2021	S&P	BBB	Stable	BBB	Negative
Panama	mars 17, 2021	Moody's	Baa1	Negative	Baa2	Stable
Panama	févr. 03, 2021	Fitch	BBB	Negative	BBB-	Negative
Panama	nov. 24, 2020	S&P	BBB+	Negative	BBB	Stable
Panama	oct. 20, 2020	Moody's	Baa1	Stable	Baa1	Negative
Panama	avr. 24, 2020	S&P	BBB+	Stable	BBB+	Negative
Panama	févr. 06, 2020	Fitch	BBB	Stable	BBB	Negative
Panama	avr. 29, 2019	S&P	BBB	Positive	BBB+	Stable
Panama	mars 08, 2019	Moody's	Baa2	Positive	Baa1	Stable
Panama	juil. 02, 2018	S&P	BBB	Stable	BBB	Positive
Panama	sept. 29, 2017	Moody's	Baa2	Stable	Baa2	Positive
Panama	oct. 31, 2012	Moody's	Baa3	Positive	Baa2	Stable
Panama	juil. 02, 2012	S&P	BBB-	Positive	BBB	Stable

Clé de table

Classe	Moody's	S&P	Fitch	DBRS	Scope Ratings
Taux préférentiel	Aaa	AAA	AAA	AAA	AAA
Haute Qualité	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Grade moyen supérieur	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Inférieure Moyenne	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
De qualité inférieure spéculatif	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CCC	CC
Extremely Speculative Grade			C	CCC	C
En défaut avec peu de perspectives de reprise		CD	RD	RD
En défaut		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Non évalué	NR	NR	NR	NR	NR

FAQ

What is Panama’s current credit rating?

Panama’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Panama’s credit risk.

Has Panama’s credit rating changed recently?

This page lists the latest rating and outlook actions for Panama, showing when each agency last reviewed or changed its assessment.

Why does Panama’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Panama's bond yields, currency, and equity flows as investors reassess risk.

How does Panama’s rating compare to other countries?

You can explore how Panama ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.