S&P Lowers El Salvador Rating
Standard & Poor's downgraded the country's rating to "BB-" from "BB" with an overall picture of "stable”.
Monday, January 17, 2011
Reuters reports part of the S&P statement "The downgrade reflects Standard & Poor's view that political climate is deteriorating due to the growing division between president Mauricio Funes and the FMLN."
The ratings agency Standard & Poor's has maintained the sovereign credit rating of El Salvador at BB-/ B local and in terms of foreign exchange, reported a stable outlook.
The most perverse thing about the credit risk rating system is that it has weakened (deliberately?) the indispensable analytical skills of investors.
The agency warns of weakening of the government's ability to access new resources, and that it could be downgraded in the next three months.
The rating agency Standard & Poor's has raised the rating of Honduras’ long term debt from "B" to "B +".
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