S&P cuts Costa Rica

S&P cuts Costa Rica

Costa Rica Economy & Policy

Standard & Poor’s has downgraded Costa Rica’s long-term foreign and local currency sovereign credit ratings to BB- from BB with a negative outlook, saying continued fiscal deterioration has resulted in a growing debt burden and rising interest payments. “The Solis administration has attempted to contain spending growth while seeking to pass fiscal reform. However, general government debt has increased an average of 5.5% of GDP during the last three years,” S&P said.The rating agency

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