S&P Global Ratings cut Chile’s sovereign credit rating to ‘A’ from ‘A+’ and changed the outlook to stable from negative on March 24th 2021, after anticipating a “structural weakness” in the country's economy once the pandemic passes. The agency said that the downgrade is based on the marked erosion of Chile's public finances over the last 10 years, which are likely to stabilize at a weakened level once the pandemic recedes and the economy recovers to its trend pace of GDP growth. S&P also noted that while economic recovery will help to reduce recently high fiscal deficits, persistent political pressure to boost social spending is likely to weigh on Chile's public finances over the next two to three years. Moody's credit rating for Chile was last set at A1 with negative outlook. Fitch's credit rating for Chile was last reported at A- with stable outlook. DBRS's credit rating for Chile is N/A with n/a outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Chile thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Chile as reported by major credit rating agencies.