S&P gives B+ to Dominican Republic bonds

Standard & Poor's said it assigned its B+ issue rating to the Dominican Republic's $1 billion bond due in 2024. The B+/B foreign currency and B+/B local currency sovereign credit ratings on the Dominican Republic remain unchanged.

The outlook on the long-term ratings remains stable.

S&P said the ratings on the Dominican Republic reflect the country's weak institutions and the politicization and opaqueness of decision-making, which lessen the predictability and effectiveness of the government's policies.

Supporting the ratings are the ongoing commitment to correcting fiscal and structural inefficiencies, solid growth potential stemming from the country's well-diversified economy, improving export prospects and strengthened debt management, the agency said.

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