S&P lifts Belize’s ratings

S&P said it raised its foreign currency sovereign credit ratings on Belize to CCC+/C from SD/SD (selective default).

At the same time, S&P said it raised the long-term local currency sovereign credit rating to CCC+ from CC and affirmed the C short-term local currency rating. The outlook on the long-term ratings is stable.

S&P also raised the rating on the bonds included in the sovereign's debt exchange to CCC+ from D.

Finally, the agency revised its transfer and convertibility (T&C) assessment to CCC+ from CC.

S&P said the ratings reflect Belize’s “post-restructuring creditworthiness.”

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