April 24, 2020 / 11:06 PM / a month ago

BRIEF-S&P Says Panama Outlook Revised To Negative On Risk Of Weaker Fiscal And Economic Trajectories; 'BBB+/A-2' Ratings Affirmed

April 24 (Reuters) - S&P Global Ratings:

* S&P SAYS PANAMA OUTLOOK REVISED TO NEGATIVE ON RISK OF WEAKER FISCAL AND ECONOMIC TRAJECTORIES; ‘BBB+/A-2’ RATINGS AFFIRMED

* S&P SAYS COVID-19 PANDEMIC WILL TEMPORARILY HALT ECONOMIC GROWTH AND FISCAL CONSOLIDATION IN PANAMA

* S&P SAYS PANAMA GOVERNMENT’S FISCAL DEFICIT WILL INCREASE IN 2020, AND ITS DEBT WILL FOLLOW AN UPWARD TRAJECTORY OVER THE NEXT FEW YEARS

* S&P SAYS REVISING RATING OUTLOOK ON PANAMA TO NEGATIVE FROM STABLE AND AFFIRMING OUR ‘BBB+/A-2’ SOVEREIGN CREDIT RATINGS

* S&P SAYS NEGATIVE OUTLOOK REFLECTS VIEW OF DOWNSIDE RISKS TO PANAMA’S ECONOMIC AND FISCAL METRICS OVER THE NEXT SIX TO 24 MONTHS

* S&P SAYS EXPECT PANAMA'S ECONOMY TO CONTRACT AROUND 2% THIS YEAR BEFORE RECOVERING BY 4% IN THE FOLLOWING THREE YEARS Source text: bit.ly/353Fs0z

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