S&P Lowers Salvadoran Rating to “BB”
Standard & Poor's risk rating, lowered El Salvador’s rating from "BB+" to "BB."
Wednesday, May 13, 2009
The rating firm indicated that the effects of international crisis on the Salvadoran economy are mainly reflected in the fiscal situation.
Standard & Poor's has revised its outlook on the long-term sovereign rating of Honduras, from stable to negative due to the risk of continued deterioration of macroeconomic stability.
Standard & Poor's placed has set El Salvador’s risk rating as ‘negative outlook’, indicating deterioration in the investment climate and growth of the fiscal deficit.
In all three countries, public finances have deteriorated due to higher fiscal deficits generated by increased government spending.
Standard & Poor's revised the sovereign credit outlook for El Salvador to negative from stable but affirmed the "BB+" rating on Wednesday, citing structural weaknesses despite progress on economic management.
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