Moody's rates Honduras bonds B2

Moody's Investors Service said it assigned a B2 rating to the $500 million bonds due 2020 issued by the Government of Honduras. The rating matches Honduras' B2 issuer rating. The outlook remains negative.

The agency said the B2 rating with a negative outlook reflects the deterioration of the government accounts in 2012 and 2013, partly related to this year's elections, and a weakening of the external accounts that has led to a widening current account deficit that has been only partially covered by foreign direct investment inflows.

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