Spanish dialects may differ according to the behavior of voiced obstruents following r, l, s, and the glides. For most dialects, for example, Mexican, fricatives occur in these environments; in some, such as highland Colombian, stops tend to occur. Another feature distinguishing dialects is s-aspiration/deletion. Several Central American dialects are of particular interest because they are both s-aspirating/deleting and stop-conserving in the series of postconsonantal environments (Canfield, 1961/1981). Detailed examination of spirantization in these dialects, as well as of the particular question of what occurs after /s/ → [s] [z] [h] [Ø] has been nonexistent. Obviously, if s is deleted before a voiced obstruent, the resulting environment of the obstruent is intervocalic, which is a favored environment for spirantization. For this investigation, 14 Honduran speakers were interviewed using standard sociolinguistic interview techniques. Tokens were transcribed and categorized according to whether s-aspiration/deletion had applied, whether spirantization had applied, and by preceding/following environment. It is shown that (a) in Honduran Spanish the group r, l, glides, and s inhibit spirantization variably, much as they do in highland Colombian Spanish; (b) neither voicing, aspiration, nor deletion of (s) favor spirantization, despite the apparently favorable (surface) environment created when deletion applies; (c) even though an analysis of (b) that orders spirantization before deletion is apparently explanatory, a view that attributes spirantization to syllable structure offers a more comprehensive explanation of what happens when the two variable processes intersect by applying to adjacent segments.