Rating agency warns of risks for Guatemala's banking system
Banks should increase their equity in order to cover unexpected losses in order to prevent their credit portfolios from deteriorating.
Thursday, August 7, 2008
The banking sector underwent a rigorous examination of its indicators by the Regional Credit Rating Agency, which issued a rating of 72.3%.
In all three countries, public finances have deteriorated due to higher fiscal deficits generated by increased government spending.
Confirmation of the decline in the financial capacity of the construction company has strengthened arguments by those calling for the revision of their contracts and that the firm not be awarded others.
Noting the political system's inability to agree on fiscal issues, Standard & Poor's has downgraded, from BB to BB-, the rating for the country's long-term debt, giving it a negative outlook.
Fitch Ratings warned that although Central American sovereigns have resisted the global crisis pretty well so far, they now require fiscal consolidation in order to maintain their credit ratings.
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