A post by @FirstSquawk on X.

Fitch placed Paraguay’s 'BB+' foreign-currency issuer default rating on Rating Watch Negative, citing potential spillovers from the failure of Ueno Bank and the associated political fallout. The agency said the collapse could restrict businesses’ access to deposits and weaken both international and local investor confidence. The move signals heightened near-term risk to Paraguay’s sovereign credit profile, though the rating remains in investment-grade-adjacent 'BB+' territory. Investors will watch whether deposit access stabilizes and whether the political fallout is contained enough for Fitch to affirm the rating rather than downgrade it.