August 20, 2018 |
Fitch Ratings has downgraded Ecuador to B- from B, but revised its outlook to stable from negative, the rating agency said in a report on Friday.
The cut reflects the sovereign issuer's increased fiscal financing constraints, rising government debt and interest burden as well as its weaker economic growth performance relative to the B rating median.
Ecuador's downgrade is also reflective of deteriorating key metrics at a time where its fiscal financing options have narrowed.
Fitch said this year
Oil exporting sovereign issuer gets cut to B- from B due to increased fiscal financing constraints