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Fitch downgrades El Salvador's credit rating

Wednesday, July 17, 2013

Fitch Ratings downgraded El Salvador's credit rating from BB to BB- on Tuesday.

The downgrade puts pressure on the Government, as access to international financing will become harder, as well as facing higher interest rates.

Fitch said the decision was based on a poor economic performance, high fiscal deficit and a debt higher than other countries with a BB grade.

Full story (in Spanish)