S&P downgrades Ecuador

S&P downgrades Ecuador

Ecuador Corporate & Sovereign Strategy

S&P Global Ratings has downgraded Ecuador to B- from B due to higher fiscal and external vulnerabilities. The rating agency said the downgrade resulted from the country's large financing needs and limited financing alternatives, coupled with rising government debt and interest burden, weak institutional capacity, and a lack of "monetary flexibility." S&P also said the new government will face challenges in addressing fiscal imbalances. Ecuador is expected to achieve GDP growth

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