S&P upgrades El Salvador

S&P upgrades El Salvador

El Salvador Corporate & Sovereign Strategy

S&P Global Ratings has upgraded El Salvador to CCC+ from SD, after the sovereign issuer completed restructuring its pension certificates (CIPs).Earlier this week, the rating agency dropped the Central American sovereign's rating to SD from CC as it considered the restructuring a default. The rating agency said the restructuring will alleviate the government's structural deficit and reduce its short-term financing needs. S&P added that the rating reflected the challenges the gov

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