Fitch Publishes El Salvador's Sovereign Rating

Fitch Ratings has recently confirmed that the country's local and foreign currency risk classification as 'BB', with Outlook Negative.

Thursday, September 9, 2010

El Salvador's main credit weaknesses include its comparatively slow GDP growth, a narrow income base and rigid fiscal policy, particularly apparent in the light of the country's vulnerability to the US economic slowdown and corresponding drop in capital movement.

However, the Fitch rankings reflect the monetary stability provided by El Salvador's official dollarization, a good history of structural reform, a stable financial sector and continuing multilateral support.

In addition, the country managed to largely stave off the global financial crisis and cope with unprecedented internal political shake-up.



More on this topic

Fitch Affirms Panama's IDRs at 'BBB'

June 2012

Fitch has affirmed the Issuer Default Ratings (IDRs) and Country Ceiling for Panama as follows: Foreign currency IDR at 'BBB'; Local currency IDR at 'BBB'; Foreign currency short-term IDR at 'F3'; Country ceiling at 'A'.

Fitch Ratings-New York-31 May 2012: Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) and Country Ceiling for Panama as follows:

A Year After Costa Rica’s Investment Rating

September 2011

On 9 September 2010, Moody's raised Costa Rica’s sovereign credit rating from Ba1, speculative grade, to Baa3 investment grade rating with a stable outlook.

An analysis of the issue by Aldesa follows:

The agency acknowledged, among other things, a stronger national economy in the face of external shocks, a healthy position in terms of net international reserves, stability in foreign direct investment flows and a willingness to responsibly manage the fiscal deficit during the coming years.

“Now More than Ever, Fiscal Discipline”

March 2010

In the wake of Panama’s upgrade to investment grade, experts are already calling to maintain the efforts that led to such achievement.

Fitch’s recent upgrade of Panama’s debt to BBB- is likely to be mirrored by other big rating companies, confirming Panama’s entrance into the club of investment-grade countries.

Fitch Rating upgrades Panama to Investment Grade

March 2010

Panama has joined the privileged group of Latin American countries ranked as investment grade, which includes Brazil, Mexico, Chile and Peru.

Fitch Ratings has upgraded the Republic of Panama's long-term foreign currency and local currency Issuer Default Ratings (IDRs) to 'BBB-' from 'BB+'.

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