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Belize Downgraded To 'B-/C' From 'B/B'; Outlook Stable Aug 11
Standard & Poors, Aug 2011
Abstract
We believe that rising contingent liabilities, most recently through the takeover of a distressed electric utility, will lower Belize's fiscal flexibility, elevating its already-high public-sector debt burden. As a result, we have lowered the foreign- and local-currency sovereign credit ratings on Belize to 'B-/C' from 'B/B'. We have also taken these ratings off CreditWatch negative. The stable outlook balances our expectation of rising government debt and debt-service burdens against our expectation that the government will contain fiscal slippage and there will be no changes to official external financing. NEW YORK (Standard & Poor's) Aug. 4, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term foreign- and local-currency sovereign credit ratings on the government of Belize to 'B-'...
Companies mentioned in this report are: Belize
Action: Downgraded
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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