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S&P ups Belize
S&P said it raised Belize’s long-term foreign-currency sovereign credit rating to B- from SD and long-term local-currency sovereign credit rating to B- from CC.
The upgrades follow Belize’s settlement with its bondholders, S&P said.
“All of Belize's bonds due 2034 were canceled on Nov. 5, 2021, following settlement of a cash tender offer to purchase the bonds and the redemption of all bonds not tendered. The purchase and the redemption were funded by a loan provided by a subsidiary of the Nature Conservancy,” the agency said in a press release.
The outlook is stable.
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