February 26, 2021
S&P Global Ratings said Thursday that Belize is "virtually certain" to default on its next coupon payment this year as the COVID-19 pandemic takes money away from servicing debt.
S&P downgraded Belize by three notches to CC with a negative outlook and said it is "increasingly unlikely" that Belize will make the payment on its 2034 bonds on May 20.
"Despite short-term relief provided by recent amendments to the terms of the bonds, wherein quarterly interest payments due from August 20, 2
Central American nation is "increasingly unlikely" to make its next debt payment on May 20, rating agency says