|
Wednesday 13 August
2008, San José, Costa Rica
Costa Rica's Outlook Raised On
Improved Fiscal, Debt Position -
Moody's
(Thomson Financial) - Moody's
Investors Service it revised the
outlook on Costa Rica's key
ratings to positive from stable
following 'significant
improvement in fiscal and debt
positions and the likelihood of
the improvement continuing in
the medium term'.
Moody's raised the outlook on
Costa Rica's 'Ba1' foreign and
local currency government bond
ratings.
The outlook on the 'Baa3'
foreign currency country bond
ceiling and on the 'Ba2' foreign
currency bank deposit ceiling
was also revised to positive
from stable.
'Costa Rica's remarkable fiscal
performance over the past few
years has been driven by
significant expenditure
restraint and an improvement in
revenues, reflecting not only
the business cycle but also a
concerted effort to enhance
collection,' Moody's said.
'As a result, the fiscal and
debt positions have improved to
such a degree that it would take
a major crisis to reverse the
virtuous debt dynamics seen in
recent years,' Moody's added |
