Moody’s Upgrades Belize

Moody’s has raised Belize’s government bond rating to Caa2 from Ca, saying the country’s debt restructuring is positive for liquidity. Still, it says further potential fiscal woes remain on the horizon for Belize. “We expect a combination of structural factors to constrain the rating in the Caa space for the next 2-4 years, indicating a relatively elevated likelihood of default recidivism,” it says.