Fitch affirms El Salvador

Fitch Ratings said it affirmed El Salvador's foreign and local currency default issuer ratings at BB+.

The outlook is stable.

Fitch added that El Salvador's ratings are supported by its macroeconomic stability, its relatively low public sector debt burden and its good record for structural reforms.

El Salvador's ratings are constrained by the country's weak social indicators, its fiscal deficits, which are relatively high for a dollarized economy and the slow growth rate of recent years, the agency said.

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