S&P lowers Guatemala outlook to negative

Standard & Poor's said it revised its outlook on the Republic of Guatemala to negative from stable and affirmed its BB+/B local currency and BB/B foreign currency sovereign credit ratings on Guatemala.

The transfer and convertibility assessment and the recovery rating are unchanged at BBB- and 3, respectively.

"The negative outlook reflects the growing likelihood that fiscal deficits will continue to exceed 3% of GDP and that debt will increase over the next several years absent any measures to strengthen revenue and boost growth prospects," said S&P credit analyst Lisa Schineller in a news release.

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