S&P affirms Belize ratings

S&P said it affirmed its long-term foreign and local currency sovereign credit ratings of B- and short-term foreign and local currency sovereign credit ratings of B on Belize.

The outlook on both long-term ratings remains stable.

S&P also affirmed its transfer and convertibility assessment at B-.

“The stable outlook reflects our view that Belize's fiscal adjustment plan, along with the lower debt service burden and modest economic recovery, would allow for a reduction of the fiscal deficits in the next two years, albeit not at the pace agreed upon under the debt restructuring recent agreement,” S&P said in a news release.

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