S&P affirms Costa Rica

Standard & Poor's said it affirmed its BB/B long- and short-term foreign and local currency sovereign credit ratings on Costa Rica.

The outlook remains stable.

S&P also affirmed its BBB- transfer and convertibility assessment.

The ratings on the Republic of Costa Rica balance the country's limited monetary, fiscal and exchange-rate flexibility with good prospects for long-term GDP growth, a stable political system and relatively high social development, the agency said.

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