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Latin America Investment News on Viva Tropical

S&P Downgrades Belize to Negative

Article Summary:

Standard & Poor’s Ratings Services recently revised its outlook on Belize to negative from stable, citing diminishing political actions to curb Belize’s external debt. Suffering though week political institutions, large governmental debt, as well as soaring crime rates, helped force the downgrade.

Original Article Text From Wall Street Journel:

S&P Revises Outlook On Belize To Negative From Stable
DOW JONES NEWSWIRES
Standard & Poor’s Ratings Services revised its outlook on Belize to negative from stable, citing diminishing political incentives to service Belize’s external debt.

The credit rater, which affirmed its B-minus/C sovereign long-term foreign currency credit ratings, noted rising crime, public-sector wage pressures and budget constraints may reduce political incentives to pay debt service.

S&P also pointed to Belize’s external imbalances, weak political institutions and large general government debt burden, which constrain the rating at the B-minus level.
At the same time, it said external financing and a favorable external amortization profile for the medium term support the ratings.

S&P last downgraded Belize’s ratings in early August after the heavily indebted country acquired a large stake in its distressed utility company.

A growing number of Belize’s public-sector companies have exposed contingent liabilities in recent months, putting more pressure on the country’s balance sheet. The Belizean government in June added a stake in Belize Electricity Ltd.

Link to Original Article:

From Wall Street Journel

Latin America Investment News on Viva Tropical