February 26, 2013 / 3:30 PM / 5 years ago

Moody's revises Honduras outlook to negative

Feb 26 (Reuters) - Moody’s Investors Service on Tuesday said it revised Honduras’ credit outlook to negative from stable and affirmed its B2 local and foreign currency government bond ratings.

“The negative outlook reflects Moody’s concerns about the government’s fiscal deterioration in 2012 and the low likelihood of significant fiscal consolidation in 2013, given that it is an election year,” the rating agency said in a statement.

The agency also said “a deterioration in the economy’s external finances, including a widening current account deficit, which remains only partially covered by” foreign direct investment.

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