Prompted by a sovereign downgrade, Moody's Investors Service has again cut the B-tranche of a transaction issued by Belize's Development Finance Corp. in April 2002. Originally at Ba2', the currently US$3.9 million chunk is now B2'. This follows a downgrade a little over a year ago of the deal known as the Belize Mortgage Co. Artemis Global Finance arranged the transaction.
Fitch Ratings quietly withdrew its rating on the deal over the last few months. An analyst at the agency declined to comment on the matter.