...September 30, 2021 MEXICO CITY (S&P Global Ratings) Sept. 30, 2021--S&P Global Ratings today said it assigned its '##-' issue rating to Guatemala's US$1 billion notes: - US$500 million due in October 2033 at a 3.70% interest rate, and - US$500 million due in October 2041 at a 4.65% interest rate. The rating on the notes is the same as the long-term foreign currency sovereign credit rating on Guatemala (##-/Stable/B). The sovereign will use the issuance proceeds for general budgetary purposes, including to refinance Guatemala's public indebtedness. Our ratings on Guatemala incorporate its solid external position, moderate general government debt to GDP, and sound monetary policy that has kept inflation under control. On the other hand, our ratings are constrained by our view of its still-developing public institutions and a challenging political environment that constrains policymaking effectiveness. A persistently narrow tax base, as well as shortfalls in basic public services and physical...
