The agency highlights the country's macroeconomic stability, while noting a slight deterioration of fiscal indicators in recent years.
From a press release issued by Moody's:
New York, October 25, 2016 -- Panama's Baa2 rating with a stable outlook reflects the country's strong economy and its broad macroeconomic stability, says Moody's Investors Service. This buoyant growth will help Panama's government reduce the nation's fiscal deficit over the coming years.
Arguing a significant increase in liquidity risk and political divisions that are preventing approval of an issuance of long-term debt, the rating agency has downgraded the rating and changed the outlook to negative.
From a press release issued by Moody's:
New York, November 07, 2016 -- Moody's Investors Service has today downgraded El Salvador's issuer and long-term debt ratings to B3 from B1 and assigned a negative outlook to the ratings, concluding the review for possible downgrade initiated on 11 August.
The National Assembly has authorized a BCIE loan to finance the National Program for Sustainable Electrification.
The resources will be used to finance part of the National Sustainable Electrification and Renewable Energy Program (NPHS), to be implemented jointly by the Ministries of Energy and Mines, the National Electricity Transmission Company and the Nicaraguan Electricity Company.
Standard & Poor's has changed the rating on the outlook from stable to negative, noting that "the reduction in public investment and rising poverty reflect the government's inability to achieve sustainable growth in the long term."
From a press release by Standard & Poor's:
Declining public investment in infrastructure and stagnant general government revenues will continue constraining Guatemala's GDP growth potential and exerting pressure on its debt service.
Due to a 12% increase in revenue in the first half of 2016 the fiscal deficit of the nonfinancial public sector fell by 80% compared to the same period in 2015.
From a statement issued by the Ministry of Economy and Finance:
The Minister of Economy and Finance, Dulcidio De La Guardia, presented today at a press conference the results of the Fiscal Balance of the Nonfinancial Public Sector (NFPS) and the Central Government, for the first half of 2016, highlighting a significant reduction in the deficit, which went from 647 million dollars in the first six months of 2015 to 129 million in the same period this year, representing a reduction of 519 million or 80.2%.
Compensation of $43 million to the State and a concession for 21 years for APM Terminals are part of the agreement made with the foreign company for it to operate the container terminal.
According to an article on Publinews, Anabella Morfin, Attorney General of the Nation, explained that"...APM and EPQ pledged to desist with the courts with their efforts to obtain a declaration of voiding due to incompetence, in order to streamline the operation of TCQ. "
The ratings agency has reduced the rating for long-term sovereign debt from B + to B, arguing that political capacity to resolve the fiscal problem is shrinking.
From a press release by Standard & Poor´s:
Continued political stalemate in El Salvador has led to a deterioration of institutional and governance effectiveness, which has contributed to a weaker external profile, and a further erosion of the government's liquidity.
The Belgian company Nyrstar sold to Morumbi Resources 100% of the subsidiary American Pacific Honduras, owner of the El Mochito zinc mine.
From a press release by Morumbi Resources:
Toronto, Ontario, September 22, 2016 – Morumbi Resources Inc. (“Morumbi” or the “Company”) (TSX-V:MOC) is pleased to announce that it has entered into a share purchase agreement (the “Agreement”) with certain affiliates of Nyrstar NV (collectively "Nyrstar") to purchase 100% of Nyrstar's indirect subsidiary American Pacific Honduras SA de CV ("AMPAC") and its flagship asset, the producing El Mochito Zinc Mine (collectively "El Mochito") in Honduras (the “Transaction”).
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Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 225 4786
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Operates in Panama and Panama
Phone: (507) 7202158