A major investment rating agency has downgraded Belize. Moody's Investors Service, today "downgraded the long-term foreign-currency and local-currency issuer and senior unsecured debt ratings of the Government of Belize and changed the outlook to negative from stable.
A release says, quote, "Moody's decision to downgrade Belize's rating reflects the increased and now very high probability of a deferral on interest payments or distressed exchange on Belize's market debt as a result of the severe economic shock the country is experiencing due to the coronavirus outbreak that has collapsed the country's tourism receipts. The rating agency believes that the sovereign's liquidity and funding position will deteriorate to such an extent that the government is likely to request interest payment deferrals that will lead to moderate losses for investors." End quote.
Basically, it means they expect Belize won't be able to make its super bond payments in August.
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