Fitch upgrades Dominican Republic

Fitch Ratings said it upgraded Dominican Republic's generation companies' long-term foreign and local currency issuer default ratings to B+ from B.

The agency also upgraded national long-term ratings of most of the issuers.

Fitch said the actions follow the upgrade of the Dominican Republic's long-term foreign and local currency issuer default ratings to B+ from B. The upgrade of the sovereign ratings reflects country resilience through adverse domestic and external conditions, improving current account dynamics due to the increasing diversity of the export structure, and the on-track fiscal consolidation of the Danilo Medina administration in its second year.

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