July 17, 2017 |
S&P Global Ratings has downgraded Chile to A+ from AA- due to higher external vulnerabilities, but it kept the sovereign issuer on outlook stable. The rating agency said the downgrade reflected the country's slow economic growth, which has affected its fiscal revenues and an increased debt burden. S&P said the combination of low copper prices and low domestic business confidence has limited the country's GDP growth prospects. The rating agency expects Chile's economy to grow 1.
Slowing economic growth and a growing fiscal burden sees the sovereign issuer cut to A+ from AA-