Moody's downgrades Costa Rica

Moody's downgrades Costa Rica

Corporate & Sovereign Strategy Economy & Policy Fixed Income Funds Regulation Costa Rica

Moody's on Monday downgraded Costa Rica's sovereign credit rating by one notch to B2 from B1, citing high fiscal deficits averaging over 6 percent of gross domestic product since 2015. The deficits, despite fiscal consolidation measures approved in 2018, have pushed the government debt to GDP ration higher than its single-B rated peers, the ratings agency said in a statement. Costa Rica's rating will carry a stable outlook. "As a result, Costa Rica's fiscal deficits, debt ratios, and interest bu

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