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.

Analyst Ricardo Perdomo told Laprensagrafica.com: "The progressive deterioration of the economy, especially in regards to the increasing fiscal deficit, allowed a prediction that ratings would go down."

More on this topic

S & P Also Rates Honduras as Negative Outlook

March 2013

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.

From a statement from Standard & Poor's Ratings Services:

Standard & Poor's has revised the outlook to negative for Honduras because of its larger fiscal deficits

Negative Outlook for Salvadoran Debt Rating

January 2013

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.

Last Friday Standard & Poor's Ratings (S & P) cut its forecast for El Salvador, arguing that the climate of increasing political polarization is weighing on investment and economic growth.

Risk for Guatemala, Costa Rica and El Salvador

June 2012

In all three countries, public finances have deteriorated due to higher fiscal deficits generated by increased government spending.

Public deficit and public debt have deteriorated the quality of the finances of Costa Rica, El Salvador and Guatemala.

"We have a negative outlook on our 'BB' rating for Guatemala and we have cut El Salvador’s rating by two grades over the past three years.

S&P revises El Salvador credit outlook to negative

September 2008

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.

"Poor social indicators; education, technology, and training gaps; and high crime rates constrain economic prospects," S&P said in a statement.

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