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Fitch rates El Salvador global bonds BB+
Fitch Ratings said it has assigned a rating of BB+ to the $225 million of 30-year global bonds issued by the government of El Salvador.
The outlook is stable.
Fitch said El Salvador's ratings are supported by its macroeconomic stability, its relatively low public sector debt burden and its good record for structural reforms.
El Salvador's ratings are constrained by the country's weak social indicators, its fiscal deficits, which are relatively high for a dollarized economy, and the slow growth rate of recent years.
However, in response to the recent implementation of the U.S.-Central America Free Trade Agreement, the country's exports and overall GDP growth have accelerated.
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