Belize Outlook Revised to Negative

S&P has revised the outlook on Belize’s B minus rating to negative from stable, citing “diminishing political incentives to service Belize’s external debt.” Rising crime and public-sector wage pressures, along with budget constraints and a weak outlook for investments were among other reasons given for the move. In August, S&P downgraded Belize to B minus with a stable outlook from B because of its higher fiscal deficit and rising contingent liabilities.