S&P: Ecuador on watch

Standard & Poor's said it placed its B- long-term sovereign credit rating on the Republic of Ecuador on CreditWatch negative.

Uncertainty about short- and medium-term economic management, in the context of a highly volatile social and political environment, has introduced increased risk as to the timely repayment of forthcoming principal and interest obligations, according to S&P.

S&P said Ecuador's ratings are constrained by a challenging political environment. Conflicting interests and strong regional divisiveness have precluded successive governments from any significant commitment to reform that could permit this resource-rich nation to achieve its significant growth potential and reduce poverty.

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