Moody's downgrades El Salvador

Moody's Investors Service said it downgraded El Salvador's long-term government bond rating to Ba3 from Ba2.

The outlook is stable.

Moody's said the one-notch downgrade of El Salvador's rating to Ba3 captures Moody's assessment of the sovereign credit challenges the country faces as a result of a weak growth outlook and its implications for debt ratios that, at present, are relatively high and have been on an upward trend.

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