S&P: Ecuador to positive

Standard & Poor's said it revised the outlook on the Republic of Ecuador to positive from stable.

The agency also said it affirmed its B- long-term and C short-term foreign- and local-currency sovereign credit ratings.

The outlook was revised to positive to reflect the likelihood of an upgrade if the government successfully increases public investment and puts in place policies to boost private investment, S&P said.

Ecuador's recent history of default and economic policy inconsistencies remain constraining factors on the rating, the agency said.

Supporting the ratings are Ecuador's relatively low external and fiscal debt burdens and improving growth prospects, S&P added.

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