Foreign Currency: B-/Negative/B Local Currency: B-/Negative/B For further details see Ratings List. Nicaragua's fiscal and financial profiles have weakened further amid ongoing economic strain, limited financing options for the government, and declining foreign currency reserves. We are therefore lowering our long-term foreign and local currency sovereign credit ratings on Nicaragua to 'B-' from 'B'. The negative outlook reflects a greater than one-in-three chance of a downgrade over the next 12 months due to potentially further pressure on the balance of payments or dollarized domestic financial system, given the government's limited foreign exchange financing options. On Nov. 9, 2018, S&P Global Ratings lowered its long-term foreign and local currency sovereign credit ratings on Nicaragua to 'B-' from 'B'. The outlook is
