8/1/25, 12:12 a.m. Fitch Upgrades El Salvador to 'B-'; Outlook Stable RATING ACTION COMMENTARY Fitch Upgrades El Salvador to 'B-'; Outlook Stable Tue 07 Jan, 2025 - 2:34 p. m. ET Fitch Ratings - New York - 07 Jan 2025: Fitch Ratings has upgraded El...
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8/1/25, 12:12 a.m. Fitch Upgrades El Salvador to 'B-'; Outlook Stable RATING ACTION COMMENTARY Fitch Upgrades El Salvador to 'B-'; Outlook Stable Tue 07 Jan, 2025 - 2:34 p. m. ET Fitch Ratings - New York - 07 Jan 2025: Fitch Ratings has upgraded El Salvador's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'B-' from 'CCC+'. The Rating Outlook is Stable. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Improved Financing Drives Upgrade: The upgrade of El Salvador's rating to 'B-' reflects the reduction in financing needs and easing of financing constraints supported by the regaining of market access, and recently announced IMF program. Fitch expects the program to support implementation of fiscal consolidation measures which in conjunction with the reduction in outstanding short-term debt owed to domestic banks and buyback of external debt, due to last year's liability management operations, should reduce financing needs. Success
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