Fitch upgrades Entre Rios

Fitch Ratings said it upgraded the province of Entre Rios’ long-term foreign and local currency issuer default ratings to CCC- from CC. Additionally, Fitch raised Entre Rios' stand-alone credit profile to ccc- from cc/

“The rating action reflects Entre Rios' improvement in its debt sustainability score under Fitch's rating case (2022-2023), underpinned by last year's distressed debt exchange (DDE) and the pace of economic recovery in the country. Fitch expects the province to present an adequate debt service coverage ratio over the next 12-month period. The ratings also incorporate a CCC macroeconomic and regulatory environment that exposes Entre Rios to a high volatile and less predictable institutional framework,” the agency said in a press release.

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