...MEXICO CITY (Standard & Poor's) March 5, 2015--Standard & Poor's Ratings Services today said it assigned its '##' foreign currency senior unsecured debt rating on the Republic of Costa Rica's planned global bond. The total amount issued, under Rule 144A Regulation S, is expected to be $1 billion, due in 30 years. Costa Rica will use proceeds to refinance domestic and external debt. The ratings on Costa Rica balance the country's persistent budget deficits and rising net general government debt burden with still-favorable growth prospects and an expected improvement in the country's external position thanks to lower current account deficits in the next two years. They also reflect Costa Rica's stable--although fragmented--political system and an exchange rate that is gradually becoming more flexible, giving the country greater ability to absorb external shocks. The stable outlook on the ratings reflects our expectation that Costa Rica's general government fiscal deficit will be less than...
