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S&P lowers Bolivia
S&P said it lowered its long-term foreign and local currency sovereign credit ratings on Bolivia to BB- from BB.
At the same time, the agency affirmed the B short-term foreign and local currency ratings.
The outlook is stable.
The agency also lowered its transfer and convertibility assessment to BB- from BB.
“Bolivia's external position has been weakened by sustained large current account deficits,” S&P said in a news release.
“We project that Bolivia's narrow net external profile will move into a debtor position of 5% of current account receipts in 2019 from a creditor position of 8.7% this year and 24% in 2017.”
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