Tuesday January 16 2024
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Ecuador
On 11th January 2024, S&P Global Ratings revised its rating outlook on Ecuador to negative from stable.
The negative outlook indicates risks that the policy measures the Ecuadorian authorities implemented may be insufficient to improve fiscal performance and regain market access ahead of a challenging debt service profile starting in 2025. Manageable commercial debt payments this year should help contain credit risks. However, amortization becomes more challenging once principal payments begin on Ecuador’s 2030 bond, which was issued in the latest debt restructuring. Delays in undertaking steps to reduce the fiscal deficit and improve investor confidence could make it more difficult for the government to fill its financing gap.
