Strong Recovery Boosts Creditworthiness

With Latin America undergoing perhaps the severest economic downturn in recent memory in 2009, the 'ability to pay' qualifications have taken a severe beating, with the median 'ability to pay' score for the 19 Latin American countries rated in our sovereign risk ratings (SRR) dropping 6 points between 2008 and 2009. Indeed, in the more severe cases, such as Venezuela (D+4), Jamaica (E-4), Honduras (E-0) and the Dominican Republic (E+0), the average decline in 'ability to pay' scores was 11.5, highlighting the enormous fiscal and balance of payments pressures facing these countries.

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