Moody's lowers Ecuador view to negative

Moody's Investors Service said it changed the outlook on the government of Ecuador to negative from stable.

The agency also said it affirmed the country's long-term issuer and senior unsecured B3 ratings.

The outlook revision reflects the risk that Ecuador's government liquidity position may remain constrained ahead of debt repayments in the coming years given the challenging market conditions it faces, Moody's said.

Ecuador's market access will remain challenged due to a combination of internal and external factors that have contributed to negative investor sentiment, which has led to very high sovereign spreads, the agency explained.

Ecuador's long-term foreign-currency ceilings remain unchanged at B2 for bonds and at Caa1 for bank deposits. The short-term foreign-currency ceilings remain NP (not-prime).

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