Moody’s drops El Salvador to B1

Moody's Investors Service said it downgraded El Salvador's issuer and debt ratings to B1 from Ba3 and placed the ratings on review for further downgrade.

The key driver for the downgrade to B1 is the continued inability of the authorities to arrest the upward trend in government debt amid persistently high fiscal deficits and low economic growth, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.