Fitch Raises Ecuador Outlook

Fitch Raises Ecuador Outlook


Fitch has affirmed Ecuador's CCC rating with a stale outlook after removing the credit from watch negative, to reflect a perceived reduction in the risk of a distressed debt exchange in the near term. "The government's manageable financial position provides a sufficient counterbalance to Ecuador's key credit weakness, which is its willingness to pay," says Theresa Paiz Fredel, senior director for sovereigns at Fitch. Oil-related trust accounts, which reached $1.2bn at end-August, bolster the fin

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