Moody's drops Ecuador to junk status

Moody's drops Ecuador to junk status

Economy & Policy Capital Markets Regulation Politics Ecuador Andean

Moody's downgraded Ecuador's long-term foreign-currency issuer and senior unsecured credit rating to Caa1 from B3 and changed the outlook to stable from negative on February 6, citing constraints on accessing the market ahead of a challenging debt amortization schedule beginning in 2022 and resistance by the government to adopting urgent economic and fiscal reforms. "The stable outlook on the Caa1 rating captures the authorities' intentions to maintain their efforts aimed at achieving further, g

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