Tuesday 20 April 2021
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Moody’s, Fitch and S&P distrust political support for plan with IMF

QCOSTARICA - The international risk rating agencies Moody’s, Fitch Ratings and Standard and Poor’s (S&P) consider that the main threat to Costa Rica solving its fiscal crisis is to obtain political support to approve the agreement with the International Monetary Fund (IMF). The US agencies...

It seems we haven’t hit bottom yet

QCOSTARICA - Employment would be affected by low investment levels, sales of goods and services would be weak, and a highly indebted government would need to spend more money than ever on debt repayment, this as interest rates rise in Costa Rica. Meanwhile, current holders...

Moody’s: Costa Rica’s credit profile matches its current rating

QCOSTARICA - Moody’s credit rating agency issued a statement Tuesday afternoon indicating that Costa Rica's credit profile is consistent with the current rating. "Costa Rica's credit profile (B2 issuer rating) reflects the country's 'baa3' economic strength based on a small, diversified economy with a long...

Moody’s changes the outlook on Costa Rica’s ratings to negative from stable; affirms B2 ratings

Moody's Investors Service on Tuesday (June 2) changed the outlook on Costa Rica's ratings to negative from stable. Concurrently, Moody's has affirmed Costa Rica's B2 long-term issuer and senior unsecured bond ratings. The negative outlook reflects Costa Rica's increased funding risks due to higher borrowing...

We Haven’t Hit Bottom Yet

Jobs are in short supply in Costa Rica as a result of low levels of investment while sales of goods and services are dwindling; Risk of investing in Costa Rica increases due to weak public finances, according to Moody's Investors Service. Even a small increase...

Costa Rica’s Finances on Treacherous Terrain

(Bloomberg) Costa Rica’s fear of protesters is proving to be greater than its fear of credit ratings agencies, putting its public finances back on shaky ground less than two years after the nation narrowly dodged a financial crisis. Moody’s Investors Service on Monday downgraded the...

Costa Rica needs to work harder on its fiscal deficit

International rating agencies Fitch Ratings and Moody’s Investors Service will not make a decision in the short term on their assessment of economic risk in Costa Rica. They are, however, worried about the size of the deficit, despite the implementation of tye Plan Fiscal (Fiiscal...

Moody’s gives Canal expansion thumbs up

Eighteen months after the expansion of the Panama Canal began to operate, its performance exceeded expectations. According to a new Moody’s Investors Service report, the total tonnage of the channel increased 22% in fiscal year 2017 (from October 2016 to September 2017), as its...

Costa Rica Bonds Fall In Price After Latest Poll Of Fabricio Alvarado In The Lead

The University of Costa Rica (UCR) poll released on Tuesday revealing Fabricio Alvarado of the Restauración Nacional party in the lead with 17% of the support, has resulted in a drop in the price of Costa Rica bonds in dollars, which expire in 2023,...

Moody’s Questions Tax Benefit Of Plan To Handle Illiquidity in Costa Rica

  According to Moody's, the plan to reduce expenses announced by President Luis Guillermo Solís will not be enough to solve the illiquidity problem being faced, nor to avoid a rise in local interest rates. The plan to cut costs that are not mandatory in the...

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