June 14, 2011 / 4:08 PM / 8 years ago

S&P revises Honduras credit outlook to positive

NEW YORK, June 14 (Reuters) - Standard & Poor’s revised its sovereign foreign currency credit rating outlook for Honduras to positive from stable on Tuesday, citing rising external liquidity and progress in strengthening fiscal balances.

“Economic recovery, renewed ties with external creditors, and growing investor confidence since the election of the administration of President Porfirio Lobo in 2010 have contributed to growing foreign exchange reserves and reduced fears about the sustainability of the de facto fixed exchange rate,” S&P said in a statement.

The credit rating of B was affirmed, S&P said. The rating is five notches below investment grade.

Moody’s Investors Service rates Honduras similarly to S&P at B2, but with a stable outlook. (Reporting by Daniel Bases and Pam Niimi, Editing by Chizu Nomiyama)

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