February 2, 2011
Moody's has upgraded Ecuador's ratings to Caa2 from Caa3. The outlook is st
Moody's has upgraded Ecuador's ratings to Caa2 from Caa3. The outlook is stable. "Ecuador should be able to secure sufficient financial support from China, the Andean Development Corporation and the Inter-American Development Bank and to access local funding from the Ecuadorian Social Security Institute to cover most of its funding needs," the agency says. It adds that Ecuador's government has expressed a commitment to honor its $650m global 2015 bonds.