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S&P downgrades Belize
Standard & Poor's said it lowered its long-term foreign- and local-currency sovereign credit ratings on Belize to CCC+ from B-.
The C short-term credit ratings are unchanged.
The outlook is stable.
"The downgrade reflects signs of lower political willingness to service Belize's external commercial debt obligations," said S&P credit analyst Kelli Bissett in a news release. "In addition, Belize faces external imbalances, limited access to external funding, and rising costs of servicing general government debt."
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