March 13, 2020 |
Fitch Ratings said on Thursday that it cast a negative outlook on Chile's credit ratings due to lower growth prospects and higher debt levels following the social unrest that began in October last year.
The rating agency added that upcoming political events, such as possibly drafting a new constitution, which would be a lengthy two-year process, and elections in November 2021, add to the negative outlook, it said in a report.
Economic growth in Chile slowed to an estimated 1.2% in 2019 from 4% i
Rating agency says lower growth prospects, higher debt levels and political uncertainty reflect downside risks