Ecuador rewarded with S&P upgrade

Ecuador rewarded with S&P upgrade

Ecuador Corporate & Sovereign Strategy

Standard and Poor’s raised Ecuador’s rating on Thursday to B from B-, noting the country’s drive to diversify its financing and the government’s efforts to pursue more pragmatic economic policies. The upgrade follows Ecuador’s return to the capital markets with a 7.95% $2bn bond two months ago, the first cross-border bond sold by the country since its default in 2008. “We raised the long-term ratings on Ecuador as a result of the government's greater fiscal flexibility, better external liquidity

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