TEGUCIGALPA, HONDURAS, Oct. 09, 2017 (GLOBE NEWSWIRE) -- October 6, 2017 - Moody's Investors Service upgraded the Government of Honduras' credit rating to B1. The rating outlook was moved to stable from positive.

In regards to this recent achievement Luis Jose Kafie, a Honduran entrepreneur stated:

"The improvement in the credit rating is good news for our country, since it allows the public sector to obtain better financing terms for their capital investments requirements. It will also bring about more local and foreign private sector investments, which will support continued economic growth and create more job opportunities.”

The businessman addressed this after hearing the economic report issued by President Hernandez, which highlights the improvement in the countries’ risk ratings by Moody's, Standard & Poor's and the International Monetary Fund (IMF). Finance Minister Cerrato announced new infrastructure investments in roads, ports and in the energy sector.

The growth and economic stability the country has achieved in the last three years has contributed to a general reduction in poverty levels.

Furthermore, Kafie added "the government has been disciplined in the management of the country’s finances and has increased tax-collection efficiencies, thereby reducing the fiscal deficit to less than 3.0%.

The country’s GDP is expected to grow 4.50% this year, with expectations this figure may increase in 2018.

Luis Jose Kafie is part of Grupo Luz y Fuerza (GLF) also known as Lufussa, a Central American independent power producer with 682 MW of installed capacity. The group has operations in Guatemala, Honduras, Nicaragua and Panama and is comprised of approximately 1,000 team members operating 10 power plants, ranging from hydro, solar, wind and thermal electric power facilities. 


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2b1fbedb-c4b2-4195-b1f8-e17b2d272fe6


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8434e831-d7c5-4073-8840-e6c7e0fd9959


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d8b071f7-c973-4e4e-88d5-73da0d1acd6b

Mirna Janineh
LUFUSSA (Luz y Fuerza de Honduras)