Saturday, September 3, 2005
Fitch downgrades Costa Rica's credit rating
In a move that tarnishes Costa Rica's image as the 'Switzerland of the Americas', Fitch Ratings has confirmed that the country's long-term foreign and local currency ratings now merit a 'BB' and 'BB Plus', respectively. Fitch cites the Costa Rican government's intransigence on the passage of CAFTA and shaky public finances as reasons for the change. article
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