S&P lifts Honduras

Standard & Poor's said it raised its long-term foreign and local-currency sovereign credit ratings on Honduras to B+ from B and affirmed the B short-term foreign and local currency ratings.

The outlook is stable and the transfer and convertibility assessment is BB.

The agency said the upgrade follows the government's ability to restore good ties with external donors and reduce domestic political tensions, thereby creating an environment for recent progress in fiscal and pension reform and gradual exchange rate flexibility.

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