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Standard & Poor's revises Honduras currency credit rating outlook to positive

Wednesday, June 15, 2011


Standard & Poor's revised its sovereign foreign currency credit rating outlook for Honduras to positive from stable, citing rising external liquidity and progress in strengthening fiscal balances.

"Economic recovery, renewed ties with external creditors, and growing investor confidence since the election of the administration of President Porfirio Lobo in 2010 have contributed to growing foreign exchange reserves and reduced fears about the sustainability of the de facto fixed exchange rate," S&P said.

The credit rating of B was affirmed, S&P said. The rating is five notches below investment grade.

Original source: Reuters