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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

Moody’s upgraded Ecuador´s rating

Posted On 20 Dec 2014

moodys-agencia-calificadoraThe rating agency Moody’s upgraded the credit rating yesterday Ecuador, passing of CAA1 to B3, said the Ministry of Finance.

The risk rating measures the ability of a country to pay its obligations or debts. The page of Moddy indicates that the rating CAA1 means that emissions (eg bonds) are considered speculative with bad reputations and are subject to very high credit risk. While the B3 rating is considered of intermediate grade and are subject to moderate credit risk, which may have certain speculative characteristics.

The Minister of Finance, Fausto Herrera said the rating agency has only accepted the greater fiscal flexibility that the Ecuadorian state has, its strong liquidity position,the improvement in the investment climate and the access to different sources of funding. According to the Minister, Moody’s acknowledged the government policies that are applied to counteract the fall in oil prices. Among them, he said, are the proposed tax law that will generate more revenue and accelerate the private investment.

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