# Central American sovereign credit rating assessments > Live situation record from CLSTR: https://clstr.news/situations/central-american-sovereign-credit-rating-assessments > Updated: 2026-09-14T03:06:38.000Z. Sources: 4. Developments: 2. Credit rating agencies have affirmed the sovereign ratings for Belize and Guatemala, noting distinct economic and institutional landscapes in both nations. In Belize, S&P Global Ratings affirmed a B-/B rating with a stable outlook. While moderate economic growth is expected, the agency cited a lack of progress on essential fiscal reforms, such as the Pension Plan for Public Officials and the implementation of a fiscal responsibility law. Concerns regarding long-term debt sustainability persist due to a history of five sovereign defaults over the last two decades. Guatemala maintains a BB+ rating with a stable outlook from Fitch Ratings. The country shows strength through projected GDP growth and low consolidated government debt, supported by remittance inflows. However, institutional weaknesses, including low public spending execution, legal uncertainty, and challenges regarding the rule of law, act as barriers to achieving investment grade status. ## Timeline ### 2026-09-14: Guatemala maintains BB+ credit rating amid institutional challenges Fitch Ratings maintains Guatemala's BB+ credit rating with a stable outlook, noting strong growth and low debt but warning that institutional weakness and poor execution prevent investment grade status. 2 sources. https://clstr.news/cluster/guatemala-maintains-bb-credit-rating-amid-institutional-challenges ### 2026-08-19: S&P affirms Belize credit rating, cites lack of fiscal reform S&P Global Ratings affirmed Belize’s B-/B credit rating, noting that while the ruling PUP is expected to remain in power, the party has yet to implement critical fiscal reforms to strengthen national finances. 2 sources. https://clstr.news/cluster/sp-affirms-belize-credit-rating-cites-lack-of-fiscal-reform --- Cite as: Central American sovereign credit rating assessments. CLSTR, https://clstr.news/situations/central-american-sovereign-credit-rating-assessments