S&P changes Nicaragua to negative

S&P said it revised its outlook on Nicaragua to negative from stable.

At the same time, the agency affirmed the B+/B foreign and local currency sovereign credit ratings.

S&P also affirmed the transfer and convertibility assessment at BB-.

“Recent political developments in Nicaragua have disrupted economic activity and undermined cooperation between the government and the private sector,” the agency said in a news release.

“The negative outlook reflects the risk of a downgrade if prolonged political discord worsens our assessment of Nicaragua's governance effectiveness and hurts the country's public finances and GDP growth prospects.”

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