Moody's cuts Bandesal

Moody's Investors Service said it downgraded the foreign currency issuer rating of Banco de Desarrollo de El Salvador (Bandesal) to Ba3 from Ba2 following a similar action taken by Moody's on the foreign currency government bond rating and country ceilings for El Salvador to Ba3 from Ba2.

The outlook remained stable, in line with the outlook on the sovereign rating.

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