Fitch affirms El Salvador

Fitch Ratings said it affirmed El Salvador's long-term foreign and local currency issuer default ratings at BB with a negative outlook.

Fitch said it has also affirmed El Salvador's short-term issuer default rating at B and country ceiling at BBB-.

According to the agency, monetary stability underpinned by official dollarization, a good track record on structural reforms, a stable financial sector and continued multilateral support underpin El Salvador's credit ratings.

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