Fitch upgrades Guatemala

Fitch Ratings said it upgraded Guatemala's long-term foreign- and local-currency issuer default ratings to BB from BB-.

“The upgrade reflects Guatemala's very strong fiscal and economic recovery, and further improved external metrics, following the pandemic and global price shocks. The post-pandemic recovery of real GDP was one of the fastest in Latin America. Fiscal deficits and debt remain the lowest in the BB category and have benefitted from improved tax collections. Current account surpluses have improved already strong external liquidity and solvency metrics,” Fitch said in a press release.

The outlook is stable.

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