Ecuador

IDB Dishes Out Loans

Brazil Mexico Ecuador

The Inter-American Development Bank (IDB) has agreed to loan Mexico $450m as part of a $562.5m drinking water and sanitation program, it says. The bullet 2021 facility ha...

Ecuador Hooks Russian PF Funds

Ecuador Loans Russia

Russia’s Rosexinbank has agreed to loan $195m to Ecuador to help build the Termogas Machala thermoelectric power plant in the El Oro province, Ecuador’s ministry for the ...

Fitch Lifts Ecuador

Ecuador Bonds Corporate & Sovereign Strategy

Fitch has raised Ecuador’s credit rating to B from B minus, it says, based on an improved outlook. The upgrade reflects healthy economic growth, as well as monetary and f...

Mexican Bottler Adds in Ecuador

Mexico Ecuador M&A

Arca Continental has agreed to acquire a majority stake in Ecuador’s Holding Tonicorp, it says. A spokesperson for the buyer declines to comment on the purchase price. To...

ENAP Sells Assets to Straighten Balance Sheet

Chile Peru Ecuador

Empresa Nacional del Petroleo (ENAP) has agreed to sell its stakes in Primax gas station operations in Ecuador and Peru to Peruvian conglomerate Grupo Romero for $312m, i...

Ecuador Receives World Bank Funds

Ecuador Loans

The World Bank has agreed to provide a $100m, 25-year loan with a 5-year grace period to Ecuador’s Manta municipality, it says. The interest rate was not disclosed. The l...

S&P Positive on Ecuador

Ecuador Corporate & Sovereign Strategy

S&P has changed the outlook on Ecuador’s B credit rating to positive from stable, it says, on the expectation of an improved fiscal position. The agency highlights the po...

Ecuador Names Finance Minister

People Corporate & Sovereign Strategy Ecuador

President Rafael Correa has named Fausto Herrera as Ecuador’s minister of finance, according to government documents. Herrera is promoted from deputy minister and replace...

Ecuador Adds Chinese Project Funds

Ecuador Loans

Ecuador has agreed to a $312.5m loan from the Export-Import Bank of China to help fund its Minas San Francisco Hydroelectric Project, according to a government source. Th...

Ecuador Plans Exchange, New Bond

Ecuador Bonds

Ecuador plans to launch an exchange offer to holdouts from its 2008 default, clearing the way for a $400m-$500m new bond issue in the coming year, the country’s deputy fi...

Ecuador Signs Another China Loan

Ecuador China Loans

Ecuador's Finance Ministry has signed an $80m loan with the Export-Import Bank of China, it says. The loan has a 20-year maturity and a 2.0% interest rate. The loan will ...

DCM Seen as Option for Reelected Correa

Ecuador Bonds

With President Rafael Correa cruising to reelection as expected this past weekend, attention turns to Ecuador's potential reengagement with the international bond markets...

Fitch Raises Ecuador’s Outlook

Ecuador Corporate & Sovereign Strategy

Fitch has changed the outlook on Ecuador’s B minus rating to positive from stable, it says. The agency notes GDP expansion of 8.0% in 2011 and government efforts to bring...

Moody's Raises Ecuador

Ecuador Corporate & Sovereign Strategy

Citing solid sources of funding and a track record of payments since a 2008 default, Moody's has raised Ecuador's credit rating to Caa1 from Caa2. The agency sees economi...

Repsol to Sell Ecuador Unit

Ecuador Europe M&A

Repsol plans to unload an Ecuador subsidiary as part of its broader asset disposal plans, it says. The Spanish oil company has received approval to negotiate the sale of ...