MOODY”S RATINGS Rating Action: Moody's Ratings upgrades El Salvador's rating to B3; outlook stable 26 Nov 2024 New York, November 26, 2024 -- Moody's Ratings (Moody's) has upgraded the Government of El Salvador's long-term foreign currency issuer and senior...
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MOODY”S RATINGS Rating Action: Moody's Ratings upgrades El Salvador's rating to B3; outlook stable 26 Nov 2024 New York, November 26, 2024 -- Moody's Ratings (Moody's) has upgraded the Government of El Salvador's long-term foreign currency issuer and senior unsecured ratings to B3 from Caa1. The outlook remains stable. The upgrade of the ratings to B3 reflects our view that the sovereign's credit profile has benefited from recent liability management operations that have significantly reduced external amortizations leading to a material decrease in repayment risk and alleviating near and medium-term liquidity pressures. Moreover, we expect fiscal consolidation measures taken by the authorities to support debt sustainability further strengthening the overall credit profile. The B3 rating reflects El Salvador's moderate economic strength with enhanced growth and investment prospects as a result of the structural improvement in the security situation, and strong improvement in government
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