This report supplements our research update "Costa Rica Long-Term Ratings Affirmed At 'BB-' With A Negative Outlook As Fiscal And External Vulnerabilities Remain," published on Feb. 23, 2017. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The ratings on Costa Rica reflect its monetary inflexibility, consistently high fiscal deficits that continue to translate into a growing debt burden, and rising interest payments. Also, current account deficits (CADs) have led to a deterioration of the country's external positon in recent years, worsening its external debt and overall liability metrics. The ratings also
