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Latin America Investment News on Viva Tropical

Belize Wins “Junk” Status from Standard and Poor’s

Article Summary:

Standard and Poor’s Rating Services downgraded Belize’s credit rating two notches deeper into junk territory, citing the increasing likelihood the government will seek a destructing of its debt.

Original Article Text From Channel 5 Belize via Google Translate :

Standard & poor Rating for Belize Plunge

At the launch of the U.D.P. manifesto last week, Prime Minister Dean Barrow was deliberate in saying that bond holders will have to sit around the table to renegotiate the five hundred and sixty-five million dollar Superbond.

The statement has been picked up by Standard and Poor’s, which again lowered Belize credit rating this evening.

A report in the Wall Street Journal says, “Standard & Poor’s Ratings Services downgraded Belize’s credit rating two notches deeper into junk territory, citing the increasing likelihood that government officials will seek to restructure the nation’s debt this year.

The latest downgrade is the second by S&P this month following a single-notch cut on February sixth.”

Link to Original Article:

From Channel 5 Belize

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