Costa Rica's $1.5 Billion Global Bond Rated 'B+'

NEW YORK (S&P Global Ratings) March 27, 2023--S&P Global Ratings today assigned its 'B+' issue rating to Costa Rica's US$1.5 billion global bond issuance. The rating is the same as the long-term foreign currency sovereign credit rating on Costa Rica (B+/Stable/B). The sovereign last tapped global markets in 2019, and it will use the issuance proceeds for general budgetary purposes and debt management. The stable outlook indicates our expectation that fiscal execution will remain on track this year despite slower growth and potential changes to the 2018 fiscal spending rule, supporting access to official and private external financing. We believe maintaining access to official financing amid uncertain global economic conditions is key to funding flexibility and confidence in the local

...March 27, 2023 NEW YORK (S&P Global Ratings) March 27, 2023--S&P Global Ratings today assigned its 'B+' issue rating to Costa Rica's US$1.5 billion global bond issuance. The rating is the same as the long-term foreign currency sovereign credit rating on Costa Rica (B+/Stable/B). The sovereign last tapped global markets in 2019, and it will use the issuance proceeds for general budgetary purposes and debt management. The stable outlook indicates our expectation that fiscal execution will remain on track this year despite slower growth and potential changes to the 2018 fiscal spending rule, supporting access to official and private external financing. We believe maintaining access to official financing amid uncertain global economic conditions is key to funding flexibility and confidence in the local and global capital markets. Official financing includes disbursements under the IMF's Extended Fund Facility (EFF) and newly created Resiliency and Sustainability Fund (RSF). Costa Rica is the...

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