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Fitch BB rating for El Salvador $800 million issue

Thursday, December 6, 2012

Fitch Ratings assigned a 'BB' rating to El Salvador's $800 million global bonds due in 2025.

The ratings are in line with El Salvador's long-term foreign currency issuer default rating of 'BB', which has a negative outlook.

The government is re-entering international capital markets with the objective of securing funds for an unlikely early payment of a bond with a put option due in January 2013, while the rest could finance buybacks of short-term debt.

Source: Reuters