Honduras Debt Burden Means Downgrade

Honduras Debt Burden Means Downgrade

Honduras Corporate & Sovereign Strategy

S&P has lowered Honduras’ credit rating to B from B+, it says, as a rising debt has made the government’s finances more vulnerable to external shock. The agency expects a deficit near 6% of GDP this year, and net debt at 27% of GDP at the end of 2013, up from 21% last year. General government interest expenses should exceed 14% of revenues this year, and the county’s shallow domestic capital markets limit ability to fund fiscal deficits. Heightened political uncertainty due to national elections

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