Thursday 17 June 2021

Costa Rica Eurobonds Risk Rating Confirmed

Standard & Poor’s has given a B+ rating to the US$1.5 billion debt issue that Costa Rica expects to place in the international market this month (November).

Global Ratings today assigned a “B+” rating to the prospective reopening of Costa Rica’s notes which have a 7.158% rate maturing in 2045 and a “B+” rating in its planned issuance of notes maturing in 2031, the latter issue still does not have a defined trading rate,” the rating agency said on November 8.

The statement adds that “… The expected combined amount of the reopening and the new notes is US$1.5 billion, consistent with the authorization of the Costa Rican legislature to issue up to this amount in Eurobonds to cover the government’s financial needs in 2019.”

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Regarding the details of the issuance, at the end of September Costa Rican authorities informed that Citi Global Markets and HSBC Global Banking, will be the banks and financial advisors that will accompany the country in the process of issuing securities and managing liabilities in the international market.

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FACT CHECK:
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