Guatemala credit rating cut to BB- by Fitch

Guatemala credit rating cut to BB- by Fitch

Debt Capital Markets Corporate & Sovereign Strategy Guatemala Latin America Coronavirus

Fitch Ratings on Friday downgraded its credit rating for Guatemala, pushing it deeper into junk territory with a BB-minus from BB, citing poor tax collection, political gridlock and the negative impact on economic growth from the coronavurus outbreak. "Congressional elections in 2019 resulted in a fractured Congress, leading to continued political gridlock and diminished reform prospects. A continued failure to enact reforms in the tax administration and pass new tax measures will lead to furthe

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