S&P Raises Ecuador to B-

S&P Raises Ecuador to B-


S&P has raised Ecuador's long-term sovereign credit rating two notches to B- from CCC, while keeping the short-term sovereign credit rating at C. "The two-notch upgrade and stable outlook are underpinned by evidence of increased government pragmatism to meet debt service," analyst Lisa Schineller wrote in a report. "This is coupled with higher government oil revenue stemming from greater-than-anticipated oil prices and the increased government take from oil production." Ecuador has $3.86bn of ou

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