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Belize 'B/B' Ratings Put On CreditWatch Negative Following Acquisition Announcement Jun 11
Standard & Poors, June 2011
Abstract
The Belizean government recently announced that it intends to acquire Belize Electricity Ltd. This transaction has the potential to increase the government's already high debt level substantially, and could also weaken its debt-servicing capacity. We have placed our 'B/B' foreign- and local-currency sovereign credit ratings on Belize on CreditWatch with negative implications. NEW YORK (Standard & Poor's) June 21, 2011--Standard & Poor's Ratings Services said today that it placed its 'B' long-term and 'B' short-term foreign- and local-currency sovereign credit ratings on Belize on CreditWatch with negative implications. The 'B+' transfer and convertibility assessment is unchanged. The Belizean government is seeking authorization from parliament to acquire a controlling share of the country's sole electricity provider: Belize Electricity Ltd. (BEL). 'We...
Companies mentioned in this report are: Belize
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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