Fitch rates Ecuador notes B-

Fitch Ratings said it assigned a B- rating to Ecuador’s $600 million notes maturing March 2025 and its $1.4 billion notes maturing March 2030. The 2025 notes have a coupon of 7 7/8% and the 2030 notes have a coupon of 9½%.

Proceeds will be used for government programs, infrastructure projects and for refinancing debt.

The B- rating is aligned with Ecuador’s B- long-term foreign-currency issuer rating.

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