October 16, 2020
Fitch Ratings said Thursday that it downgraded Chile by one rung to A- as large-scale protests late last year and the COVID-19 pandemic this year led to higher public spending.
The lower rating reflects "Chile's lower trend growth prospects, eroding fiscal balance sheet and political/social risks," Fitch said in a statement. But the country still has "credible" macroeconomic policies and lower debt levels than other A-rated peers, it added.
Fitch also cut Chile's local-currency ratings by two no
Lower grade reflects shrinking GDP and rising debt levels, rating agency says