S&P affirms Belize

Standard & Poor's said it affirmed its CCC- long-term foreign, CCC+ long-term local and C short-term sovereign credit ratings on Belize.

The outlook remains negative.

S&P said that the ratings reflect the uncertain ability of the government to service its debt.

The sovereign's impaired ability to access commercial external financing and the short-term maturity of the commercial debt exacerbate its capacity to repay its obligations, the agency noted, adding that however, recent bilateral support from Taiwan and Venezuela strengthens Belize's capacity to make payments this year.

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