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Fitch Ratings cut El Salvador's long-term ratings one notch deeper into junk territory, saying that nation's economy is expected to shrink 2.5 percent this year.
The move to BB matches the one handed out last month by Standard & Poor's Ratings Service.
Fitch lowered its ratings outlook on the country to negative in October, where is remains even after the downgrade, meaning further cuts aren't out of the question.
Original source: Dow Jones