Belize Defaults on Debt for Second Time in a Year, S&P Says
- Central American nation missed interest payment on superbond
- Belize faces ‘constrained fiscal position,’ S&P says
This article is for subscribers only.
Belize is on course for its second default in less than a year after missing an interest payment, triggering a downgrade by S&P Global Ratings.
The Central American nation was cut to SD, or “selective default,” from CC by S&P on Monday after failing to make a $6.5 million interest payment on its $526.5 million so-called superbond due in 2034. It marks the country’s fifth restructuring or default event in the past 14 years.