S&P downgrades Costa Rica rating

February 17, 2012

Costa Rica received a local-currency credit rating of BB by Standard & Poor’s. The rating is two levels below investment downgrade, and down from its previous rating of BB+, according to Bloomberg.

The news agency reported the grade was a result of the country’s “limited monetary flexibility” and increases in government spending. S&P cited Costa Rica’s monetary policy, which lacks flexibility because of a “high level” of dollarization in the economy.

You may be interested

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada
Please Send Coffee!
472 views
Please Send Coffee!
472 views

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada

Gustavo Díaz Cruz - December 14, 2017

My mom named me Gustavo Adolfo. I was born in Puntarenas, next to the sea, but my home was in…

Response to disaster: aid successes, struggles in post-Maria Puerto Rico
Weather
755 views
Weather
755 views

Response to disaster: aid successes, struggles in post-Maria Puerto Rico

John McPhaul - December 13, 2017

As Costa Rica joins many other nations in looking back upon the horrendous 2017 hurricane season, longtime Tico Times contributor…

Looking back at Hurricane Maria: the initial impact
Weather
1869 views
Weather
1869 views

Looking back at Hurricane Maria: the initial impact

John McPhaul - December 12, 2017

As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…