S&P confirms Panama's BB+ debt rating
Standard & Poor's, the debt rating agency, has confirmed that Panama's long-term debt will remain at BB+. The government then announced the reopening of two global bonds due to mature in 2015 and 2029.
Friday, June 6, 2008
The rating agency said in a news release that the outlook for the debt is stable. Panama said Wednesday that it will issue 477.743 million dollars in the re-opening of a global bond with a 2029 maturity, as part of its strategy of repurchasing shorter-term debt with higher yield.
The Credit Default Swaps (CDS) for Guatemalan bonds is only 1%, confirming the perception of investors that the chance of a default is very remote.
Standard & Poor's today affirmed its 'BBB-/A-3' long- and short-term sovereign credit ratings on the Republic of Panama and revised the outlook to positive from stable.
"Weak public institutions in Guatemala and a polarized political environment continue to limit its credit quality" - Standard & Poor's
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.
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