Fitch rates Ecuador notes B

Fitch Ratings said it assigned a B rating to Ecuador's $1 billion 8¾% notes due June 2, 2023 and $1 billion 9.625% notes due June 2, 2027.

The proceeds will be used in accordance with local budget laws for government programs and investment projects, Fitch said.

The bond rating is in line with the Ecuador's long-term foreign-currency issuer default rating of B and sensitive to any changes in that rating.

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