S&P rates Guatemala notes BB-

S&P said it gave BB- ratings to Guatemala’s $1 billion of notes. The country is selling $500 million of 3.7% notes due October 2033 and $500 million of 4.65% notes due October 2041.

“The rating on the notes is the same as the long-term foreign-currency sovereign credit rating on Guatemala (BB-/stable/B),” the agency said in a press release.

The government will use the issuance proceeds for general budgetary purposes, including to refinance its public debt.

The outlook is stable.

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