Fitch changes El Salvador view, pulls rating

Fitch Ratings said it revised the outlook for El Salvador to negative from stable, affirmed the long-term foreign- and local-currency issuer default ratings at B- and withdrew the rating.

“The ratings were withdrawn due to a criteria change. The new criteria states that for fully dollarized economies like El Salvador, Fitch would treat default on their dollarized debt as a default on the sovereign's FC IDR,” Fitch said in a press release.

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