Moody’s changes Panama view to negative

Moody’s Investors Service said it changed the outlook on the government of Panama’s ratings to negative from stable.

“The key driver for the change in outlook to negative is the consideration that, absent meaningful fiscal consolidation and sustained economic recovery, the sharp deterioration in fiscal and debt metrics will continue to undermine Panama’s credit profile in the coming years,” Moody’s said in a press release.

Moody’s affirmed the long-term issuer and senior unsecured debt ratings at Baa1.

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