November 28, 2018 |
Fitch Ratings said it has downgraded Nicaragua to B- from B with a negative outlook as the country faces a sharper-than-expected economic decline.
The rating agency also cited Nicaragua's rising deficit and greater financing constraints both at home and abroad as reasons for the downgrade.
"Although the level of violence has subsided since Fitch's last review in June, the risk of political instability remains high and undermines prospects for an economic recovery," Fitch said in a ratings report
Rating agency cites a sharper-than-expected economic decline, a rising deficit and greater financing constraints as reasons for the downgrade