Fitch lifts Ecuador

Fitch Ratings said it has upgraded Ecuador's long-term foreign issuer default ratings to B from B-.

The outlook has been revised to stable from positive.

Fitch said it has affirmed the country's short-term foreign currency issuer default rating at B. Fitch has also upgraded the country ceiling to B from B-.

According to the agency, Ecuador's upgrade reflects the country's continued healthy growth performance, monetary and financial stability underpinned by dollarization and a steady easing of external and fiscal financing risks as a result of still favorable international oil prices, improved prospects in the oil sector and continued availability of bilateral financing from China and multilaterals.

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