NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned a 'B' rating to Ecuador's USD1 billion 10.75% notes maturing in 2022.
The proceeds from this issuance will be used for general budgetary financing purposes.
KEY RATING DRIVERS
The bond rating is in line with Ecuador's Long-Term Foreign Currency Issuer Default Rating (IDR) of 'B'.
RATING SENSITIVITIES
The bond rating would be sensitive to any changes in the Ecuador's Long-Term Foreign Currency IDR.
On Oct. 2, 2015, Fitch affirmed Ecuador's Long-Term Foreign Currency IDR at 'B' and maintained the Stable Outlook.
Date of Relevant Rating Committee: Oct. 1, 2015
Additional information is available on www.fitchratings.com
Applicable Criteria
Sovereign Rating Criteria (pub. 18 Jul 2016)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=885219
Additional Disclosures
Solicitation Status
https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1009459
Endorsement Policy
https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31
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