Fitch trims Guatemala to BB-

Fitch Ratings said it downgraded Guatemala's long-term foreign-currency issuer default rating to BB- from BB and revised the outlook to stable from negative.

“The downgrade of Guatemala's IDRs reflects diminishing fiscal flexibility due to the government's low tax collection amid continuous political gridlock preventing forceful fiscal measures, as well as a downward revision to growth prospects related to the global pandemic,” said Fitch in a press release.

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