This study assessed the credit implications of Chinese investment through the Belt and Road Initiative (BRI) in Latin America during the 2008-2018 period, with FDI and bilateral loans as the main financing flows under analysis. Following a two-pronged approach, this study focused on four countries: Argentina, Brazil, Ecuador and Peru. Using Moody’s Sovereign Bond Ratings Methodology, the Capstone team found that Chinese financing has neutral credit implications for the four countries surveyed. This is because BRI terms of loans are fair despite their stringent conditionalities. The varying results observed both within the region and outside of it reflect each country’s internal dynamics. Hence, countries with weak economic and institutional fundamentals are more prone to display bad outcomes stemming from Chinese investments. At the same time, BRI has the potential for long-term economic gains for countries with stronger fundamentals.