Guatemala's Sovereign Risk Rating Revised

"Weak public institutions in Guatemala and a polarized political environment continue to limit its credit quality" - Standard & Poor's

Tuesday, July 23, 2013

An article in reports that "The three most important credit rating agencies internationally: Moody's, Standard & Poors and Fitch Ratings, have pointed to deficient management in Guatemala's social indicators."

The lastest sovereign rating by S & P for Guatemala (BB + / Stable / B lc) and (BB / Stable / B for foreign currency) "reflects a gradual improvement in the growth of Gross Domestic Product (GDP) and tax revenues" . ... But: "The improvement expected in economic growth and tax revenue should have reduced the negative risks for Guatemala at the current rating level, however, it is unlikely that the country will generate sufficient resources to rapidly advance in the areas of economic development and social or public safety. "

"... The last observation made by Fitch Ratings, on July 11, points out: 'The revision of the outlook to negative from stable, reflects Guatemala's slow progress in addressing the weaknesses that are hampering growth.' "

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More on this topic

Guatemalan Debt Rating Confirmed

June 2018

Citing a long history of fiscal and monetary policy characterized by prudent management, the rating agency Moody's maintained the country's credit risk rating in Ba1.

From a statement issued by the Bank of Guatemala:

June 2018. Moody's Investors Service maintains the credit risk rating for Guatemala at Ba1 with a stable outlook.  

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.

Moody's Upgrades Panama to Investment grade

June 2010

Moody's Investors Service on Wednesday upgraded Panama's sovereign ratings to investment grade of Baa3 from Ba1.

The change is based on a significant improvement in the country's fiscal and debt positions.

"The anticipated positive impact of fiscal policy initiatives on government accounts and prospects for sustained economic growth are at the core of the upgrade," said Alessandra Alecci, Moody's vice president and senior analyst. "The Panama Canal expansion and an ambitious infrastructure investment program are likely to support strong economic growth in the next few years, boding well for debt dynamics," added Alecci. The outlook is stable.

S&P Also Upgrades Panama to Investment Grade

May 2010

Standard & Poor’s rated Panama as investment grade; Fitch did the same two months ago.

The risk rating agency raised Panama's long-term foreign- and local-currency sovereign credit ratings to “BBB-” from “BB+”.

"The upgrade reflects our assessment that continued economic growth--combined with moderate fiscal deficits--should reduce the government's debt burden and maintain its financial profile comfortably in line with that of other sovereigns in the 'BBB' rating category," said S&P credit analyst Roberto Sifon-Arevalo. The outlook on Panama is stable.

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