March 1, 2021 |
Moody's on Friday revised its sovereign credit rating outlook for Ecuador to stable from negative, citing the nation's restructured external market debt position and its latest financing agreement with the International Monetary Fund (IMF).
Ecuador's Caa3 rating is still deep within junk status territory, pressured by "lingering challenges to reducing fiscal imbalances, that could once again raise credit risks over the medium-term," the credit rating agency said in a statement.
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Rating at Caa3 is deep within junk status, but stabilized by debt restructuring and IMF loan agreement