• MOODY'S CHANGES OUTLOOK ON URUGUAY'S RATING TO NEGATIVE; AFFIRMS GOVERNMENT BOND RATING AT BAA2
• MOODY'S - URUGUAY'S FISCAL CONSOLIDATION MEASURES THAT SEEK 1% OF GDP DEFICIT REDUCTION WILL BE CHALLENGED BY MACROECONOMIC WEAKNESS
•  MOODY'S ON URUGUAY'S NEGATIVE OUTLOOK-DOWNSIDE RISKS STEMMING FROM LARGER-THAN-EXPECTED REGIONAL SPILLOVERS,STRUCTURAL EXPENDITURE RIGIDITIES REMAIN
•  MOODY'S - URUGUAY'S LONG-TERM LOCAL CURRENCY COUNTRY RISK CEILINGS REMAIN UNCHANGED AT A2