This report supplements our research update "Honduras Long-Term Rating Raised To 'B+' On Improved Fiscal Performance And Stable Debt Burden; Outlook Stable," published on July 20, 2015. 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 the Republic of Honduras reflect recent fiscal and other reforms that are likely to stabilize the government's debt burden in the coming two years. Standard&Poor's Ratings Services expects that continued implementation of recent revenue measures, along with energy-sector restructuring, will contain Honduras' general government fiscal deficit to around 4% of GDP
