Belize Successfully Closes Debt Restructuring

Belize Successfully Closes Debt Restructuring

Corporate & Sovereign Strategy

Belize successfully closed its debt restructuring, renegotiating over 98% of its debt with bondholders, the government announced. The debt swap, which closed February 20, earned Belize an overseas credit rating upgrade from Standard & Poor's on Wednesday to 'B' from 'SD'. S&P also raised Belize's long-term local currency rating to 'B' from 'CCC+' and its short-term local currency sovereign rating to 'B' from 'C'. At the end of last year, the authorities in Belize offered to swap outstanding comm

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