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Published on 12/10/2007 in the Prospect News Emerging Markets Daily.

S&P affirms Belize

Standard & Poor's said it affirmed its B long-and B short-term sovereign credit ratings on Belize.

The outlook is stable.

The agency said that the ratings on Belize balance out the government's large debt against its improved amortization and cost profiles.

The debt exchange, launched by the government on Dec. 18, 2006 and concluded on Feb. 20, 2007, affected 50% of Belize's total public debt, the agency noted, adding that the participation rate in the restructuring was high, with over 95% of eligible claims exchanged by year-end 2007.


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