Ecuador Rating Cut by Fitch After Killing as Presidential Election Nears
- Rating of CCC+ is in category with El Salvador and Mozambique
- Sees financing risks for Ecuador regardless of vote’s outcome
The Ecuadorian flag flies outside the Presidential Palace in Quito.
Photographer: Johis Alarcon/BloombergThis article is for subscribers only.
Ecuador had its credit score slashed Wednesday by Fitch Ratings, which cited heightened financing risks for the Latin American nation rocked last week by the assassination of a candidate for president.
The credit assessor lowered its rating by one step to CCC+, seven notches below investment grade and on par with Mozambique and El Salvador. The downgrade comes as voters prepare to go to the polls Sunday to choose a president, congress and decide on a referendum that could hinder oil extraction and exploration.