The risk rating firm Fitch Ratings raised El Salvador’s credit rating by three notches, going from CC in the February report to CCC+ in the document that was shared last Thursday, May 4.
During the report, Fitch highlights that the improvement in the credit rating is largely due to the timely payment and with interest of the 2023 bonds, as well as the success of the debt repurchase operations.
“The IDR upgrade follows the successful completion of the exchange and payment of significant global bond redemptions earlier in the year, and reflects Fitch’s view that another default event “It no longer seems likely (…) El Salvador’s CCC+ rating reflects fiscal and external liquidity positions that have improved relative to Fitch’s previous expectations,” the rating agency highlighted.
#TemaDelDíaES The risk rating firm Fitch Ratings raised El Salvador’s credit rating by three notches, going from CC in its February report to CCC+ in the document they shared yesterday. pic.twitter.com/snaBkP4fmC
— Diario El Salvador (@elsalvador) May 5, 2023
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