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Jun 7, 2005

Moody?s downgrades Belize?s credit ratings

It doesn’t exactly come as a surprise, but today Moody’s Investors Service, following the lead of Standard & Poor’s, announced a downgrade in Belize’s credit ratings. The drop covers a number of categories, including the foreign currency ceiling, lowered to B3 from B2; the foreign currency deposits, reduced to Caa1 from B3; and the general outlook, altered from stable to negative. According to a Moody’s press release, the primary reason for the downgrade is lack of confidence in the government’s ability to carry out necessary fiscal and monetary adjustments.

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