Fitch Ratings has upgraded Ecuador’s debt rating from CCC+ to B-, assigning a stable long-term economic outlook for the country.
The international ratings agency cited Ecuador’s reduced financing needs and its diversification of credit sources as key factors in the decision. The upgrade follows Ecuador’s recent return to international markets, where it executed a successful liability management operation. Fitch also noted that the country’s economic stability is supported by a recovery in domestic demand and record levels of non-oil exports. Additionally, the agency highlighted Ecuador’s historic current account surplus, which has contributed to continued growth in international reserves.
Sariha Moya, Minister of Economy and Finance, responded to the new rating by stating: “These results increase the confidence of international investors, which is positive for driving further consolidation in growth and job creation.”
