Guatemala credit outlook revised up to stable
NEW YORK, Sept 6 |
NEW YORK, Sept 6 (Reuters) - Standard & Poor's on Thursday revised its credit outlook on Guatemala to stable from negative, citing better prospects for economic growth and improvements in tax collection.
"New tax legislation will provide an opportunity for Guatemala to increase gradually its still remarkably low tax collection through improved tax administration," S&P said in a statement.
S&P affirmed the Central American nation's long-term sovereign foreign currency credit rating of BB. Moody's Investors Service rates Guatemala one notch higher at Ba1 with a stable outlook, similar to Fitch Ratings' BB-plus with a stable outlook rating. (Reporting By Daniel Bases and Caryn Trokie; Editing by Steve Orlofsky)
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