Bolivian bonds fall nearly 1% due to oil crash and S&P downgrade

External notes maturing in 2028 dropped by nearly 1 cent to 80.9 cents per dollar on Monday, its biggest drop in two weeks, as oil plummeted to a negative $37.68 per barrel, something never before seen. The nation’s credit rating was also reduced Friday by S&P Global Ratings, which offset any optimism about the approval of IMF aid funds. S&P expects lower energy prices to push the government deficit to more than 8% of GDP by 2020, compared to 6.9% in 2019, and downgraded Bolivia’s credit rating from BB- to B+.