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Moody's downgrades Belize on 'high probability' of delayed payments

Moody's downgrades Belize on 'high probability' of delayed payments

May 13, 2020 | Daniel Bases
Credit rating falls to Caa1 from B3 and outlook is revised to negative

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Belize Central America

Moody's said on Tuesday it cut the sovereign foreign currency credit rating for the central American nation of Belize to Caa1 from B3 citing an "increased and now very high probability" that it will either defer on interest payments or enter into a distressed debt exchange because of the economic stresses imposed by the coronavirus pandemic. The pandemic has caused a collapse in the nation's tourism receipts. Moody's estimates that gross domestic product in 2020 could contract as much as 15%, de

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