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Fitch upgrades Guatemala to BB

Fitch upgrades Guatemala to BB

February 20, 2023
Rating agency cites the Central American country's "very strong" economic recovery and low fiscal deficits

Corporate & Sovereign Strategy Fitch Ratings Upgrade Economy & Policy Debt Guatemala Central America

Fitch Ratings said it upgraded Guatemala's credit ratings to BB from BB- due to the country's "very strong" economic recovery after the COVID-19 pandemic. "The post-pandemic recovery of real GDP was one of the fastest in Latin America," Fitch said in a report on Thursday. "Fiscal deficits and debt remain the lowest in the BB category and have benefitted from improved tax collections," it added. Fitch expects Guatemala's GDP to grow 3.3% in 2023, propelled by surging remittances and higher export

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