Standard & Poor's affirms El Salvador's BB minus

Standard & Poor's affirmed El Salvador's BB-minus long-term sovereign credit rating.

The company based its rating he country's limited monetary and fiscal flexibility, as well as its limited ability to absorb negative external shocks.

The rating outlook is negative, reflecting "at least a one-in-three chance of a downgrade in the next 12 months if political polarization continues to weigh on investment and gross domestic product growth, resulting in a higher burden of fiscal and external debt," the rating agency said.

Source: Reuters