This report supplements our research update "Honduras Outlook Revised To Positive On Expectation Of Sustained Fiscal Improvement; 'B+/B' Ratings Affirmed," published on July 18, 2016. 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. Our outlook reflects that sustained fiscal improvement, including restructuring the energy sector, and favorable economic growth could improve Honduras' fiscal flexibility over the next two years. Successful adherence to the benchmarks laid out in Honduras' three-year program with the International Monetary Fund (IMF), combined with continued GDP growth, could strengthen public finances by helping to contain the expected
