S&P rates El Salvador bond BB+

Standard & Poor's said it assigned its BB+ rating to the Republic of El Salvador's planned $286.5 million bond issue due 2034 with a put at 15 years.

S&P also said it affirmed its BB+ long-term and B short-term sovereign credit ratings on the republic. The outlook remains stable.

"The rating is supported by El Salvador's long history of prudent macroeconomic management, stable institutions, and structural reform," said S&P credit analyst Richard Francis. "El Salvador has a strong and well-regulated banking system, moderate debt, and falling interest rates - although widespread poverty, demands on fiscal policy, and limited economic growth pressure the country's credit standing."

© 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.