S&P Lowers El Salvador Rating

Standard & Poor's downgraded the country's rating to "BB-" from "BB" with an overall picture of "stable”.

Monday, January 17, 2011

Reuters reports part of the S&P statement "The downgrade reflects Standard & Poor's view that political climate is deteriorating due to the growing division between president Mauricio Funes and the FMLN."

The rating agency stated that the next presidential election in 2012 may contribute to exacerbate political tensions which exist today and stop pending reforms.

More on this topic

Positive Outlook for Panama's Debt

July 2018

S & P has improved Panama's outlook from stable to positive, re-affirming its BBB risk rating based on factors such as "high and consistent economic growth and a stable fiscal policy".

The rating granted by Standard & Poor's recognized " ...

S&P Puts El Salvador's Rating Under Special Review

October 2016

The agency warns of weakening of the government's ability to access new resources, and that it could be downgraded in the next three months.

From a press release by Standard & Poor´s:


In our view, El Salvador's financial management is deteriorating, as reflected in a weakening of the government's ability to gain access to liquidity, due to heightened political polarization.

Standard & Poor's Maintains El Salvador’s Rating

January 2012

The ratings agency Standard & Poor's has maintained the sovereign credit rating of El Salvador at BB-/ B local and in terms of foreign exchange, reported a stable outlook.

The report notes, "The Government's commitment to fiscal and macroeconomic stability is consistent with the ratings, despite mediocre economic growth and limited fiscal and monetary flexibility."

BBB A +, B-CC, D. .. ¿AAA?

September 2011

The most perverse thing about the credit risk rating system is that it has weakened (deliberately?) the indispensable analytical skills of investors.

The resignation of Standard & Poor's chief executive of following the agency’s downgrading of the U.S.’s credit rating, reveals the fragility of the whole risk rating system.

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