Fitch to rate Ecuador social bond AAA, B-

Fitch Ratings said it expects to rate classes A and B 144A/Reg S notes to be issued by Ecuador Social Bond Sarl AAAsf and B-sf, respectively. The outlook is stable.

The Republic of Ecuador expects to obtain funding to finance its social housing program by offering the class A and B notes.

The social bond, issued by Ecuador and partially guaranteed by the Inter-American Development Bank, will be the asset backing the class A and B notes (together the repack notes). The assigned ratings address timely payment of interest and principal on a semi-annual basis.

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