Fitch affirms Guatemala

Fitch Ratings said it affirmed Guatemala's foreign-currency issuer default rating at BB+, local-currency issuer default rating at BB+, foreign-currency short-term issuer default rating at B and country ceiling at BBB-.

The outlook remains stable.

The ratings are supported by the country's track record of macroeconomic stability, a solid debt repayment record and its modest public and external debt burdens relative to BB peers, Fitch said.

The ratings are likely to be constrained to speculative-grade over the medium term due to the country's weak social and governance indicators, limited fiscal flexibility, continued spending pressures and modest growth prospects, the agency said.

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