Uruguay now stands two notches above minimum assessments and is in a better position than that recognized by Standard & Poor’s (BBB), Moody’s (Baa2), DBRS Morningstar (BBB-), and Fitch (also BBB-).

R&I spoke of “a greater likelihood that the structural reforms that the current administration has been working on in several areas will boost economic growth while maintaining the stability of the financial system.”

It also highlighted the government’s attitude of putting the focus and momentum “on reforms that aim to accelerate economic growth and further improve fiscal sustainability in the medium term.”

“Uruguay’s political and social stability is among the highest in South America,” the Japanese agency underlined.

Uruguay’s Economy Minister Azucena Arbeleche celebrated the announcement during a conference in which she also addressed the issuance of green bonds for US$ 1.5 billion.

“This risk rating is important because of what we always say. Because having a good rating makes our financing cheaper in relative terms and therefore, we can allocate more resources not only to pay the debt but also to other areas that we understand are a priority for Uruguayans,” Arbeleche explained.

The minister also said that the bond was a “pioneer in the world” by indexing its interest rate to the result of its environmental performance.

R&I’s grading and the bond “will allow us to benefit all Uruguayans, they are a support for greater investment, growth, and jobs, which is the ultimate objective of our economic policy,” she also noted.

Arbeleche stressed that the bond signals “the first time that an instrument ties the commitments of the Paris Agreement” to government performances that would otherwise entail no consequence for non-compliance. “It is the first time that finance and environment are intertwined,” she argued.

If Uruguay meets the goals of reducing greenhouse gases and conservating native forest areas, it will pay a lower interest rate, it was explained. It is the first time that a bond will “have a financing cost that is linked and indexed” as per the government’s environmental performance.

“What Uruguay is showing with this innovative product is that really, as it was said from the beginning, the environment matters and that is why these objectives are set and have a concrete consequence if they are met or not,” Arbeleche pointed out.

https://en.mercopress.com/2022/10/22/japanese-rating-agency-ups-uruguay-s-grading

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The CHR Group team is proud to help Uruguay’s port and logistics infrastructure to be better every day.

https://www.cronicas.com.uy/columnas/uruguay-hub-logistico/

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Montevideo, 9 de octubre de 2020. El grupo forestal finlandés UPM ha adjudicado al consorcio compuesto por Grupo  Christophersen, Cointer Concesiones (Grupo Azvi) y Deutsche Bahn International Operations las operaciones ferroviarias a través de 273 kilómetros en Uruguay. Ampliando su actual colaboración con UPM en Europa, Deutsche Bahn International Operations, filial al 100% de los ferrocarriles estatales alemanes y primer operador de mercancías en Europa, asumirá el liderazgo como proveedor de servicios en la empresa operadora. Las inversiones en el material rodante y el centro de mantenimiento serán llevadas a cabo por Cointer Concesiones -presente en múltiples proyectos de infraestructura de gran escala en la región- y el grupo uruguayo Christophersen, que lleva más de 10 años prestando servicios logísticos a UPM. Tras la renovación de la vía, el consorcio prestará servicios de operación ferroviaria de la más alta calidad, cumpliendo con las más exigentes normas ambientales y de seguridad. El contrato, que se ha firmado por un período de 25 años, no sólo incluye las operaciones, sino también el diseño a medida y mantenimiento de los vagones especiales de mercancías y locomotoras que cumplen con los más modernos estándares medioambientales. Cada año se transportarán alrededor de dos millones de toneladas de pasta de celulosa desde la planta de UPM en el centro de Uruguay hasta el puerto de la capital, Montevideo. El contrato de operación ferroviaria es parte de un importante proyecto en Uruguay, que comprende la construcción de una planta de celulosa de última generación y el desarrollo de la infraestructura asociada. “Nuestro rol en el proyecto es aportar a Uruguay conocimiento especializado en materia de transporte de carga sostenible y en tecnología ferroviaria de categoría mundial”, afirma un portavoz del consorcio, “así como impulsar el futuro desarrollo del transporte ferroviario en la región”.

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