Moody's upgrades Belize after last year's restructuring

Moody's upgrades Belize after last year's restructuring

Corporate & Sovereign Strategy Bonds Debt Fixed Income Loans Capital Markets Belize Inter-American Development Bank (IDB) Credit Ratings Moody's Investors Service Upgrade

Moody's said it upgraded Belize by one notch to Caa2 and maintained a stable outlook, citing lower debt levels after restructuring a "superbond" in November last year. Belize reduced debt to 82.3% of GDP in 2021 from 104.5% in 2020 after it repurchased $556 million in bonds for "55 cents on the dollar," Moody's said in a report on Wednesday. The country is expected to lower debt to 72% of GDP in 2023 as "interest rates over revenues remain under 10% over the next three years," giving the governm

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