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.
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