March 25, 2021 |
S&P Global Ratings cut its long-term foreign currency credit rating by one notch to A from A+ on Wednesday, citing weaker fiscal flexibility in one of Latin America's strongest economies.
Chile's credit outlook however was revised to stable from negative by S&P. In contrast, Fitch Ratings affirmed Chile's credit rating at A- with a stable outlook earlier on Wednesday.
According to S&P estimates, Chile's fiscal deficits will be moderately higher than the rating agency had expected and
S&P cites the "weaker fiscal flexibility" in a one-notch cut to one of Latin America's stronger economies