Fitch affirms Guatemala

Fitch Ratings said it affirmed Guatemala's local and foreign currency issuer default ratings at BB+.

The outlooks are stable.

At the same time, Fitch said it has affirmed the short-term issuer default rating at B and the country ceiling at BBB-.

Fitch's affirmation of Guatemala's ratings with a stable outlook reflects adequate management by the country's authorities of the negative impact of the global economic and financial crisis, the agency said.

"Guatemala's sound macroeconomic fundamentals and its authorities' commitment to managing downside risks helped the country's resilience during the worst global economic downturn in recent history," said Theresa Paiz Fredel, senior director for Latin American sovereign ratings.

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