Panama’s credit score was cut by S&P Global Ratings, putting the Central American nation a step closer to losing its investment-grade status, Bloomberg News reported. S&P lowered Panama by a notch to BBB-, on par with Mexico and Romania, citing rising government debt levels made worst by sluggish revenue. The outlook is stable. “The downgrade reflects the sovereign’s weaker flexibility that increases the vulnerability to economic and fiscal challenges ahead,” analysts including Karla Gonzalez and Manuel Orozco wrote in a Tuesday statement.
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Panama
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The severe drought which has forced the Panama Canal, one of the world's busiest trade passages, to limit daily crossings could impact global supply chains during a period of high demand, S&P Global said on Wednesday, Reuters reported. The canal has imposed several restrictions since 2023, though last month the Panama Canal Authority bumped up daily crossings to 27, from 24, as water levels rose at the man-made Gatun Lake which feeds into the canal.
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