Fitch upgrades Ecuador

Fitch Ratings said it upgraded Ecuador's long-term foreign currency rating to B- from CCC+ and the short-term rating to B from C.

The outlook is stable.

Fitch said its rating action reflects improvements in access to financing, spending restraint and export growth.

"Although Ecuador's fiscal and external liquidity remains very tight, access to financing from local sources has improved, in part because of higher oil receipts," said Morgan C. Harting, sovereign analyst at Fitch.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.