Fitch downgrades Panama's debt to “junk” after the closure of a large copper mine and the Canal water crisis. The next Government, to be elected in the May elections, will have a restricted margin in its public finances, the rating agency warned.
While S&P Global rates the country's debt BBB, Moody's Ratings gives it the lowest level of investment grade, Baa3. Markets consider two out of three ‘Junk’ ratings to constitute a downgrade from official investment grade.