Fitch affirms Dominican Republic

Fitch Ratings said it affirmed the Dominican Republic's foreign-currency and local-currency issuer default ratings at B with a positive outlook. Fitch also affirmed the country ceiling at B+ and the short-term foreign-currency issuer default rating at B.

The ratings are supported by the strength of the economic recovery, progress on the structural reform front, as well as a manageable debt service profile, Fitch said.

The ratings are constrained by a still-fragile liquidity position that can be exacerbated by a less benign external environment or a loss of confidence and ensuing capital flight, the agency said.

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