December 24, 2018 |
S&P Global Ratings has downgraded Costa Rica to B+ from BB- with a negative outlook, citing a high debts and external risks.
"A high debt burden, poor debt management, a rising share of government debt denominated in foreign currency and a persistently high level of dollarization in the financial sector highlight Costa Rica's external vulnerabilities," S&P said in a report.
S&P also said it expects Costa Rica to run a fiscal deficit between 5% and 6% of GDP in the next two years, d
Rating agency gives the country a one-in-three chance of another downgrade in two years