Fitch affirms Costa Rica

Fitch Ratings said it affirmed Costa Rica's issuer default ratings at long-term foreign-currency BB, local-currency BB+ and short-term B.

The outlook is stable.

Costa Rica's ratings are supported by its dynamic economy, stable and democratic political system, relatively favorable social indicators and modest, declining external debt burden, the agency said.

Constraining the ratings are the country's weak but improving monetary and exchange-rate policy framework as well as structural weaknesses in public finances, Fitch said.

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