MOODY’S AFFRIMS BELIZE'S B3 LONG-TERM FOREIGN AND LOCAL-CURRENCY ISSUER RATINGS

On March 05, 2019, Moody' Investors Service affirmed the Government of Belize's B3 long-term foreign and local currency issuer ratings, and the government's B3 foreign and local-currency senior unsecured bond ratings, with a stable outlook.

The affirmation reflects the forceful fiscal adjustment that was enacted in FY 2017/18 and continued in FY 2018/19. This fiscal adjustment programme along with strengthening economic recovery has supported the sovereign’s debt sustainability. However, despite decreased fiscal pressures, lingering credit challenges including structurally low growth and vulnerability to climate shocks remain substantial.

The stable outlook reflects the low risk of subsequent credit events over the next 12 to 18 months, given the government's more favorable debt repayment schedule.