Fitch lowers Guatemala

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

Fitch said it has also downgraded the issue ratings on Guatemala's senior unsecured foreign and local currency bonds to BB from BB+.

The outlooks on the long-term issuer default ratings have been revised to stable from negative.

In addition, Fitch said it has downgraded Guatemala's country ceiling to BB+ from BBB- and affirmed the short-term foreign currency issuer default rating at B.

The agency stated that Guatemala has not been able to make sufficient progress to materially enhance its growth prospects, widen its revenue base and improve its fiscal flexibility.

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