Panama Credit Rating Cut to Junk by Fitch Amid Mine Spat
- Country had been rated investment grade by Fitch since 2010
- Bonds drop as firm cites fiscal woes, ‘tense’ social backdrop
The Central American nation’s credit score was cut to BB+ from BBB- on Thursday.
Photographer: Nicolo Filippo Rosso/BloombergThis article is for subscribers only.
Fitch Ratings stripped Panama of its investment-grade credit rating as the closure of a key copper mine last year added to the country’s fiscal worries and risks undermining growth prospects.
The Central American nation’s credit score was cut to BB+ from BBB- on Thursday, with a stable outlook. That’s in line with Vietnam, Colombia and Serbia.